US Treasury Secretary Bessent Imposes Sanctions on Iran and Intervenes in Bond Market

On August 20, 2026, US Treasury Secretary Scott Bessent announced the toughest ever sanctions on Iran, urging China to cooperate, and said economic pressure could avert major military operations. Meanwhile, Bessent also stepped in to calm the US bond market as long-term bonds slid and the national debt surpassed $40 trillion. His intervention, however, failed to soothe investors, and the dollar risks becoming the biggest loser from US bond buying. These actions highlight Bessent's dual role in foreign policy and financial stability.