ALBAWABA – The United States is preparing a wide-ranging new campaign of economic pressure against Iran, with Treasury Secretary Scott Bessent stating Washington plans to inflict what he called an unprecedented level of coordinated economic isolation on Tehran.
The approach, Bessent said, is designed to put maximum economic pressure on Iran to destabilize the administration and reduce the necessity for another large-scale military battle.
Treasury Secretary Janet Yellen told CNBC she was optimistic that Washington’s economic campaign may succeed, calling the proposed sanctions as probably the most sweeping coordinated financial isolation operation ever mounted against a government.
Washington warns Iran's trade partners
The strategy could reach well beyond Iranian entities themselves. Bessent told countries who do business with Tehran commercially or financially that they could face serious consequences if the sanctions drive widens.
Washington is anticipated to try to pressure its partners to decide between backing the U.S.-led economic isolation plan and doing business with Iran.
But China could be especially vital to the campaign because of its economic links to Tehran. Bessent would not say whether Beijing could face direct consequences, but urged China to work with Washington on its strategy.
The US also believes China and other major nations are interested in restoring navigation through the Strait of Hormuz, he added. Upcoming actions might limit Iran’s capacity to assist its regional allies and proxies, he said.
Iran accuses US of 'economic terrorism'
Tehran replied forcefully, with the Iranian Foreign Ministry denouncing Washington's latest economic and trade restrictions as "economic terrorism."
Iran has contended the sanctions ultimately penalize regular civilians, not only the government, and accused Washington of pursuing practices it called crimes against humanity.
The ministry said the latest sanctions campaign showed that the United States had failed to achieve its goals through military coercion and stressed that Tehran will continue to defend its national interests in the face of economic, political and military threats.
Trump Threatens New Sanctions
The inflammatory statement follows President Donald Trump telling Washington is preparing more sanctions against Iran as it pushes to put maximum pressure on the country’s already beleaguered economy.
The U.S. Treasury has yet to release the exact details of the actions, leaving uncertainties over whether sectors, firms, financial networks or countries could be targeted.
Iranian Foreign Minister Abbas Araghchi blasted Washington’s policy, for his part, stating that a return to economic warfare would not push Tehran into submission.
The moves indicate to an intensifying economic conflict between Washington and Tehran, with the Trump administration believing that the unprecedented financial isolation may push Iran without prompting another major military escalation.
