Increased US sanctions on Iran make large-scale war less likely: Bessent
US Treasury Secretary Scott Bessent said the United States will impose “the toughest sanctions in history” on Iran and urged China to cooperate with Washington.
US Treasury Secretary Scott Bessent announced on Thursday that the United States will impose "the toughest sanctions in history" on Iran. The focus on economic measures, according to Bessent, would lessen the need for new major military operations against Tehran. The statement came after President Donald Trump threatened "Economic Warfare" and warned of economic consequences against any country providing aid to Iran.
Oil prices surged to a three-week high following the US threats of financial penalties aimed at ending a nearly six-month-long conflict that has stranded millions of barrels of Middle Eastern oil. Bessent told CNBC that if the maximum economic pressure is applied, a large-scale military restart is likely to be avoided. The conflict has resulted in thousands of deaths and drawn in Gulf nations, with Iran flexing its ability to disrupt shipping through the Strait of Hormuz.
Iran's foreign ministry condemned the US sanctions as "economic terrorism" targeting ordinary Iranians and calling them crimes against humanity.
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