Trump turns to economic pain as US bombings fail to sway Iran

The US military campaign against Iran has thus far been unsuccessful in forcing Tehran to comply. The Trump administration now believes that increasing economic pressure through sanctions and a naval blockade will achieve the desired outcome. Facing a shortage of necessary munitions and wary of a controversial war, Trump and his top officials are returning to a strategy that was effective during his first term, known as "maximum pressure."

This approach has been dubbed "Operation Economic Fury" by Secretary Scott Bessent, who claims it is crippling the Iranian economy. US Ambassador to the United Nations Mike Waltz stated that Iran would "absorb the bombings," but that Iranians were more afraid of Bessent than Defense Secretary Pete Hegseth. Trump echoed this sentiment, saying that Iran is facing "huge inflation and no money."

The administration argues that the economic pressure is causing the Iranian government to suffer, and they plan to keep pushing. However, this strategy has not led to political change or Iran's nuclear program being halted. Analysts suggest that Iran may be nearing economic collapse and has limited options to evade sanctions. Despite the sanctions, Iran has been sanctioning other nations, including North Korea and Cuba, for decades without significant political change.

The US has imposed over 2,000 sanctions on Iran since 2018, with about 350 part of the "Economic Fury" initiative. Yet, these sanctions have not compelled Tehran to abandon its nuclear program or loosen its grip on the Strait of Hormuz. While the sanctions are effective at depriving Iran of resources, they may not change the regime or lead to the country relinquishing its nuclear ambitions.

The White House claims that the sanctions and naval blockade have left Iran completely broke, and President Trump has a range of options to pursue in the coming months. One potential avenue is targeting China, the largest buyer of Iranian oil, and India, which accounts for approximately 90% of Iranian oil exports. Sanctions on entities facilitating these oil purchases could reduce Iran's oil income, but this approach could also escalate tensions with China, particularly before a scheduled meeting between Trump and Chinese President Xi Jinping.