IDF Kills Terrorist After Attempted West Bank Stabbing, Israel Reportedly Strikes Lebanon
Bessent said the Treasury Department will detail tougher sanctions after months of conflict, as officials seek to cut Iran’s oil revenue and proxy funding.
- Treasury Secretary Scott Bessent announced Thursday that the United States will impose the "toughest sanctions in history on Iran," with details to be revealed at a press conference on Monday, August 24.
- The conflict escalated last month when a memorandum of understanding collapsed between Washington and Tehran, prompting a U.S. naval blockade that has redirected 67 commercial vessels since July 14.
- Bessent called for allies to join the "greatest coordinated economic isolation in the history of the world," specifically pressuring China—which sources 50% of its energy from the Gulf—to comply.
- Iranian Foreign Minister Abbas Araghchi dismissed the threat as a distraction from America's $40 trillion national debt, while Deputy Foreign Minister Kazem Gharibabadi argued the military war failed so "now they've named the next failure 'economic war'."
- Brent crude prices rose to about $94 a barrel this month, while former U.S. ambassador Daniel Fried expressed skepticism, stating Iran has "workarounds pretty much in place right now" and leverage remains limited.
12 Articles
12 Articles
After Bessent Comments, China Warns US That It Cannot Sanction Iran Out of Existence
The Trump administration is once again threatening to carry out "regime change" in Iran, this time using what President Donald Trump described as "economic warfare" against the nation rather than military might.
Bessent: US to Impose ‘Toughest Sanctions in History’ on Iran
Treasury Secretary Scott Bessent said on Aug. 20 that the United States will impose the “toughest sanctions in history on Iran,” the details of which will be announced on Monday. In an interview with CNBC on Thursday, Bessent said he planned to hold a press conference on Aug. 24 to share the Trump administration’s plan to increase economic pressure on Iran following months of military conflict. The Iran war, which started on Feb. 28, restarted …
Bessent says the financial system, oil trade and maritime blockade will be used as key instruments to pressure Tehran
Bessent teases Iran economic pressure plan
Treasury Secretary Scott Bessent plans to reveal on Monday “exactly what we’re going to do” to ratchet up economic pressure on Iran, he told CNBC Thursday morning. “If you insist on doing business with them — either transferring money, buying their oil, or doing seaborne ship transfers — then the US Treasury … will put its full might and force toward enforcing against you,” Bessent said. He suggested that the administration’s new efforts could a…
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