‘You’re Either With Us or Against Us’: Bessent Doubles Down on Economic War Against Iran After Midterms

The US Treasury Department on Wednesday announced new sanctions on Iran , escalating the economic war against the Islamic Republic one day after Republicans were crushed in the midterms in an election seen as a referendum on the Iran war. “As we have said many times, under Operation Economic Outcast, you are either with us or against us,” Treasury Secretary Scott Bessent said in a post on X. “We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air.”

Bessent holds a White House Press Briefing on May 28, 2026 (White House photo) The sanctions targeted an Indian man and his wife, whom the Treasury Department accused of operating a “criminal network” that supports Iranian shipping. “Their schemes have provided false flags and certifications to sanctioned vessels involved in transporting Iranian petroleum, including vessels operating on behalf of the Iranian military and its proxies,” the Treasury Department said in a statement on the sanctions.

The measures also targeted multiple other individuals and companies based in India and one Turkish-based company that the US has accused of supporting Iran’s aviation industry. The sanctions and Bessent’s statement came after both President Trump and Vice President JD Vance acknowledged that the Iran war was a top factor in the GOP defeat in the midterms as it caused a rise in gas prices and the cost of living for Americans. Bessent’s strategy to crush the Iranian economy is also having a devastating impact on Iranian civilians , though it has done nothing to end the conflict, and there’s no sign that Iranian leadership will capitulate due to the pressure, as Tehran has been dealing with Western sanctions for decades.

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