Washington DC [US], August 25 (ANI): US Treasury Secretary Scott Bessent on Monday (local time) defended the decision to hold off on imposing major sanctions against countries with economic ties to Iran, calling the 'economic D-Day' announced Monday a 'warning shot,' CNN reported.

'We believe that a warning shot and a level-set of expectations is appropriate,' Bessent told a CNN reporter at a press conference.

The US, he said, is 'giving everyone the opportunity to remedy bad behaviour,' adding that imposing sanctions immediately without warning could 'blow up the global financial system.'

Bessent added, 'We believe that it is important to level-set and give people a cure period, but they should know that that will move very quickly and that we are serious.'

Bessent declined to provide specific timelines during the press conference and did not identify the countries that Washington has contacted. 'I'm not going to set timelines, but we do not have infinite patience here,' Bessent told reporters.

Bessent said President Donald Trump has been calling world leaders with specific requests for them to work with Washington to economically isolate Tehran. However, he declined to identify the countries Trump has contacted.

'We've already seen some results,' Bessent said, adding that the US Treasury and State departments would follow up with visits and calls of their own.

The departments will tell each country 'exactly what we expect and the timelines,' he said.

'And I would expect that very quickly, if they do not respond, then you will see the ramifications of their actions,' Bessent said.

On Monday (local time), Scott Bessent announced the launch of 'Operation Economic Outcast', saying the campaign aims to sever Iran's financial connections around the world and cut off revenue sources supporting the Iranian regime.

While addressing a press conference, Bessent said, 'The US Department of the Treasury has launched Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its neighbours.'

'During World War II, D-Day marked the historic beginning of a joint campaign with our allies to target and drive the enemy from its positions, including those in third countries. Today, in that same spirit, we are launching an economic onslaught against Iran's financial connections around the globe. Our goal is to sever every economic lifeline that sustains this tyrannical regime,' Bessent said.

Bessent said Iran now faces a choice between global isolation and a return to the international economy.

'Iran now faces a clear choice, with only two paths before them: complete global isolation and a subsistence economy, or a path to normalcy with the opportunity to rejoin the global economy. Today we are launching Operation Economic Outcast to foreclose all other options available to the Iranian regime,' Bessent added. (ANI)