Trump announces ‘Economic Warfare’ on Iran, threatens ‘tremendous’ consequences for its backers
Bessent said new measures could come this week as the administration weighs sanctions, shipping pressure and steps aimed at China to squeeze Iran further.
- Treasury Secretary Scott Bessent announced this week that President Donald Trump is prepared to order new sanctions on Iran to punish its economy, marking an escalation in economic pressure.
- The administration favors economic warfare, touting its naval blockade of the Strait of Hormuz, after a 60-day memorandum of understanding between the U.S. and Iran expired with no replacement agreement.
- Escalating pressure targets an Iranian economy suffering 65% inflation over the past year, with officials considering sanctions on Chinese banks despite concerns about harming American economic interests.
- Mohammad Ghalibaf, Iran's parliament speaker, wrote on X Tuesday that the U.S. was "trying to pull a rabbit out of their hat" and that squeezing Iran will not win concessions.
- Trump, who is "not in a hurry" for a solution, maintains a long-term approach while Energy Secretary Chris Wright said the administration aims to leave the next generation without nuclear threats.
12 Articles
12 Articles
Trump declares 'economic D-Day' against Iran, threatens countries aiding Tehran
Trump said Washington would target a wide range of channels used to sustain Iran’s economy, including oil smuggling, cash transfers, currency exchanges, financial swap lines, ship registries and front companies.
"No one offered the Islamic Republic of Iran a better opportunity than mine to reach an agreement. Tragically for them, they did not take it. (ANSA)
Trump vows 'most crushing economic operation ever' as war talks fade to black
President Donald Trump announced on his Truth Social platform he would turn all economic guns on Iran, as his war drags on with no sign of productive talks."No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me," wrote Trump. "TRAGICALLY, for them, they have failed to take it. Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!"The president vowed "Economic W…
Trump announces 'Economic Warfare' on Iran, threatens ‘tremendous’ consequences for its backers
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