{"id":66976,"date":"2026-08-24T14:08:13","date_gmt":"2026-08-24T18:08:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-launches-economic-d-day-against-iran-syria-removed-from-terror-sponsor-list\/66976\/"},"modified":"2026-08-24T14:08:13","modified_gmt":"2026-08-24T18:08:13","slug":"us-launches-economic-d-day-against-iran-syria-removed-from-terror-sponsor-list","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-launches-economic-d-day-against-iran-syria-removed-from-terror-sponsor-list\/66976\/","title":{"rendered":"US Launches &#8220;Economic D-Day&#8221; Against Iran; Syria Removed from Terror Sponsor List"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>US Treasury Secretary Scott Bessent<\/strong> announced a <strong>&quot;zero-leakage&quot;<\/strong> Iran sanctions strategy, targeting nearly <strong>60 entities<\/strong> and warning that a major financial institution could be sanctioned this week.<\/li>\n<li><strong>The US State Department<\/strong> officially removed <strong>Syria<\/strong> from the <strong>State Sponsors of Terrorism<\/strong> list after a decades-long designation, signaling a major shift in regional policy.<\/li>\n<li><strong>Saudi Aramco (<a href=\"\/stock\/2222\">2222<\/a>)<\/strong> signed a Memorandum of Understanding (MoU) with French companies valued at over <strong>$3.7 billion<\/strong> to enhance its supply chain and digital technology.<\/li>\n<li><strong>Hyundai Motor (<a href=\"\/stock\/HYMTF\">HYMTF<\/a>)<\/strong> reached a tentative labor deal in South Korea, averting further strikes with a <strong>100,000 won<\/strong> monthly base pay increase.<\/li>\n<li><strong>Iran\u2019s Supreme National Security Council<\/strong> warned that any country supporting the US &quot;economic war&quot; would be committing an <strong>&quot;act of war,&quot;<\/strong> threatening to block oil exports from the Persian Gulf.<\/li>\n<\/ul>\n<h2>US Escalates &quot;Economic D-Day&quot; Against Iran<\/h2>\n<p>Treasury Secretary <strong>Scott Bessent<\/strong> has detailed a massive escalation in the US &quot;zero-leakage&quot; strategy against Iran, describing the offensive as an <strong>&quot;Economic D-Day.&quot;<\/strong> The administration has sanctioned nearly <strong>60 Iran-linked entities<\/strong>, vessels, and individuals across oil, nuclear, and cyber networks. Bessent warned that the US will block <strong>US dollar access<\/strong> for any entity laundering Iranian funds and emphasized that no country\u2014including <strong>China<\/strong>\u2014is exempt from these secondary sanctions.<\/p>\n<p>The pressure campaign has already seen results, with Washington viewing recent moves by the <strong>UAE<\/strong> to cut ties with Iran as a direct consequence. <strong>President Trump<\/strong> is reportedly personally pressuring world leaders to sever economic connections with Tehran. Meanwhile, <strong>Iran Major General Mohsen Rezaei<\/strong> countered that the US must take practical steps to implement the terms of existing MoUs, warning of &quot;seismic&quot; retaliation if the economic siege continues.<\/p>\n<h2>Syria Removed from Terror List; Italy Opts Out of Drills<\/h2>\n<p>In a landmark diplomatic move, the <strong>US State Department<\/strong> has removed <strong>Syria\u2019s<\/strong> designation as a <strong>State Sponsor of Terrorism<\/strong>. This update to the <strong>OFAC<\/strong> sanctions list follows a mandatory congressional review and marks the end of one of the longest-standing designations in US history. The move coincides with broader updates to Iran-related general licenses, including the suspension of licenses that previously allowed certain remittance payments to Iran.<\/p>\n<p>On the European front, <strong>Italy<\/strong> has announced it will not participate in the <strong>&quot;Exercises of the Willing,&quot;<\/strong> a coalition military drill. Reports indicate Rome is seeking to avoid further regional escalation while maintaining its commitment to existing national and European naval missions. This decision highlights emerging fractures in international coordination as the US ramps up its maximum pressure campaign in the Middle East.<\/p>\n<h2>Corporate Developments: Aramco Deals and Hyundai Labor Peace<\/h2>\n<p><strong>Saudi Aramco (<a href=\"\/stock\/2222\">2222<\/a>)<\/strong> continues its global expansion, announcing a series of pacts and an MoU with French firms with a potential value exceeding <strong>$3.7 billion<\/strong>. The agreements focus on project support, technology transfer, and industrial AI, aiming to bolster the Kingdom\u2019s <strong>Vision 2030<\/strong> goals. The deal was highlighted during a French-Saudi Investment Roundtable, underscoring the strengthening economic ties between Riyadh and Paris.<\/p>\n<p>In South Korea, <strong>Hyundai Motor (<a href=\"\/stock\/HYMTF\">HYMTF<\/a>)<\/strong> management and labor unions reached a tentative agreement to end a period of significant unrest. The deal includes a <strong>100,000 won ($72.31)<\/strong> increase in monthly base pay and a commitment to hire <strong>500 new technical workers<\/strong> by 2028. This resolution follows the union&#39;s first full-day strike in a decade, which had threatened to disrupt a quarter of the automaker&#39;s total global output.<\/p>\n<h2>Diplomatic Coordination and Market Reaction<\/h2>\n<p>Secretary of State <strong>Marco Rubio<\/strong> met with South Korean Foreign Minister <strong>Cho Hyun<\/strong> on Monday to reinforce the <strong>US-ROK alliance<\/strong>. Rubio emphasized the need for &quot;close coordination&quot; on regional security, particularly as the US manages escalating tensions with Iran and North Korea. The meeting follows recent friction regarding joint military exercises and the broader strategy for the Korean Peninsula.<\/p>\n<p>Financial markets showed signs of caution amid the geopolitical volatility. The <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> fell <strong>0.3%<\/strong>, while the tech-heavy <strong>Nasdaq<\/strong> dropped <strong>0.6%<\/strong>. Conversely, the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/strong> managed a slight gain of <strong>0.1%<\/strong>. Investors remain focused on the potential for secondary sanctions to disrupt global shipping and banking networks, particularly in the <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> and digital asset sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US Treasury Secretary Scott Bessent announced a &quot;zero-leakage&quot; Iran sanctions strategy, targeting nearly 60 entities and warning that 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