Treasury Secretary Announces Historic Sanctions Against Iran Amid Escalating Economic Pressure Treasury Secretary Scott Bessent is set to hold a press conference on Monday to unveil sweeping sanctions against Iran, which he has described as the most severe economic campaign in history. During an interview with CNBC on Thursday, Bessent emphasized that the measures would "collapse" the Islamic Republic through coordinated economic isolation, framing the action as a decisive step in the U.S. strategy to isolate Iran. The sanctions, he claimed, represent the "toughest" measures ever imposed, with the administration demanding that U.S. allies and global partners sever economic ties with Tehran. Bessent’s remarks align with President Donald Trump’s recent threats to launch an "unprecedented scale" of economic warfare against Iran. In a post on Truth Social, Trump reiterated his administration’s intent to target the country with "the most crushing economic operation ever taken against any country." The U.S. has also warned of severe financial penalties for nations aiding Iran in evading sanctions, framing the measures as a "war" against the Islamic Republic. Bessent echoed this rhetoric, stating that the U.S. would use its "full might" to enforce compliance, with a clear message that countries must choose sides: "You are either with us or against us." Iran’s state media swiftly dismissed the U.S. threats, portraying them as an admission of military defeat. An Islamic Revolutionary Guard Corps (IRGC) spokesperson claimed the sanctions were an "implicit admission of the enemy's humiliating defeat" and asserted that Tehran possesses the means to counteract their effects.#iran #scott_bessent #truth_social #treasury_secretary #islamic_republic
US Mint to Begin Striking Dollar Coin Featuring Trump Treasury Secretary Scott Bessent announced on July 15, 2026, that the U.S. Mint will begin producing a new $1 commemorative coin featuring President Donald Trump to mark the 250th anniversary of the signing of the Declaration of Independence. The coin, which will have a gold-like finish but not be made of actual gold, is set to be available in the fall. Bessent described the design as a tribute to "the enduring legacy of liberty and a lasting symbol of patriotism," emphasizing its role in celebrating "the strength of American values" and "the promise of a nation dedicated to preserving freedom for all." The decision has raised legal and procedural concerns. The U.S. Mint’s design review process typically involves the Citizens' Coin Committee (CCC), which is tasked with evaluating proposed designs. However, members of the CCC, including numismatist Donald Scarinci and coin collector Kellen Hoard, claimed they were never provided with the Trump coin design for review. Scarinci, a long-time committee member, stated that the Mint made only a few last-minute attempts to present the design in November and December 2025, but the committee never had a formal opportunity to assess it. Hoard, representing the general public on the committee, noted that the CCC was not given a chance to weigh in on the coin’s design or the selection of the Semiquincentennial series of quarters. During a February meeting, Hoard questioned Mint Chief Counsel Greg Weinman about the legality of the coin’s production, asking whether the Mint could proceed without the committee’s review. Weinman responded that the Mint had made efforts to involve the CCC but that the committee had chosen not to review the design.#donald_trump #scott_bessent #us_mint #treasury_secretary #citizens_coin_committee
US Mint to Begin Producing $1 Coins Featuring Trump The U.S. Mint announced on Wednesday that it will start producing one-dollar coins featuring a portrait of former President Donald Trump, marking the first time a living individual will appear on U.S. currency. Treasury Secretary Scott Bessent confirmed the decision in a social media post, stating the coins are part of a commemorative effort for the nation’s semiquincentennial anniversary, which celebrates 250 years of American independence. The design includes Trump’s portrait on the obverse side, with the reverse side depicting the presidential seal and the number “250” inscribed on the shield. Bessent described the coin as a tribute to “the strength of American values” and the country’s commitment to “preserving freedom for all.” The move has sparked debate over legal precedents, as federal laws typically prohibit living people from appearing on U.S. currency. A 1866 statute explicitly bans living individuals from paper money, though it does not specifically address coinage. Additionally, the 2007 Presidential $1 Coin Program barred living presidents and those who had died within two years from being featured on coins. However, a 2020 bipartisan law authorized the Treasury Secretary to issue dollar coins in 2026 with designs “emblematic of the United States semiquincentennial.” While the law states that no person, living or dead, can be included on the reverse side of the coin, some legal experts argue it may allow for Trump’s portrait to remain on the obverse. The final design represents a significant departure from an earlier draft, which had featured Trump on both sides of the coin.#donald_trump #scott_bessent #us_mint #semiquincentennial_anniversary #treasury_secretary
