To torment slowly; to strangle someone gradually — used metaphorically for gradually tightening pressure or prolonging suffering.
新しい規制は企業の資金繰りを真綿で首を絞めるように締めつけている。
The new regulations are squeezing companies' cash flow like strangling them slowly with silk.
彼女は上司の細かい指摘に疲れ、まるで真綿で首を絞められているかのように感じた。
She was exhausted by her boss's nitpicking and felt as if being slowly tormented.