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By Steve Mollman
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Iranian Parliament Speaker Mohammad-Bagher Ghalibaf issued a new warning amid the widening conflict with the United States, suggesting that the country's financial institutions and investors could be treated as military targets.
In a X post on Sunday, Ghalibaf wrote that financial entities linked to funding the U.S. military were “legitimate targets,” and claimed U.S. Treasury bonds were “soaked in Iranians’ blood.” The post concluded with a warning directed at investors: “We monitor your portfolios. This is your final notice.”
Newsweek reached out to the U.S. Treasury via email for comment on Sunday.
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Why It Matters
Ghalibaf's remarks appear to blur the line between military threats and financial coercion. While Iran has repeatedly warned that it would retaliate against U.S. and allied military targets, explicitly invoking U.S. Treasury bonds—among the safest and most widely held financial assets in the world—pushes the conflict into largely uncharted territory.
Any suggestion that sovereign debt holders could be targeted, even rhetorically, risks spooking markets at a moment when global oil prices are already volatile and shipping through the Strait of Hormuz remains severely disrupted.
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What To Know
Late last month, the U.S. and Israel targeted key military targets in Iran and killed Supreme Leader Ayatollah Ali Khamenei and other government leaders. Iran responded by launching missiles and drones targeting Israel and several Gulf Arab states that host U.S. armed forces.
Shipping through the Strait of Hormuz, where roughly 20 percent of the world's total petroleum consumption comes from, remains heavily disrupted amid the war, though Iran has said some vessels from countries not involved in attacks on the Islamic Republic may be allowed to transit.
Ghalibaf, a former Islamic Revolutionary Guard Corps commander and one of Iran’s most powerful political figures, has emerged as one of the most outspoken voices during the conflict. Over the past two weeks, he has issued multiple warnings on X, threatening retaliation against U.S. and Israeli infrastructure and declaring that Iran would “abandon all restraint” if its critical assets were attacked.
The speaker's Sunday post goes further by framing financial participation in U.S. government debt as complicity in military action. U.S. Treasury securities are held by central banks, pension funds, banks, and individual investors around the world, and form the backbone of the global financial system.
"Alongside military bases, those financial entities that finance the US military budget are legitimate targets," Ghalibaf wrote. "US treasury bonds are soaked in Iranians' blood. Purchase them, and you purchase a strike on your HQ and assets. We monitor your portfolios. This is your final notice."
Iran has a long history of aggressive rhetoric aimed at deterrence and psychological pressure, particularly during periods of military strain. The White House has repeatedly said Iran will face “overwhelming consequences” for any attacks on U.S. interests.
On Saturday evening, President Donald Trump gave Iran an ultimatum in a Truth Social post, threatening to destroy Iranian power plants if Tehran does not fully reopen the Strait of Hormuz within 48 hours.
In response, Ghalibaf warned any attack on power plants or infrastructure would trigger retaliatory strikes on energy and oil facilities across the Middle East.
Update 3/22/26, 4:26 p.m. ET: This article has been updated with additional information and to state that the U.S. Treasury has been contacted for comment.
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