US Ramps Up Pressure on Allies to Participate in 'Toughtest Sanctions in History' on Iran
[International] : The United States has ramped up pressure on allied nations to participate in what it said would be "the toughest sanctions in history" on Iran. Speaking to CNBC on Thursday, U.S. Secretary of Treasury Scott Bessent called the existing naval blockade on Iran and the maximum economic pressure a "one-two ... [more...]
The United States is preparing to impose what it calls the toughest sanctions in history on Iran. US Treasury Secretary Scott Bessent said the sanctions would be part of a campaign of maximum economic pressure aimed at reducing the need for new major military operations against Tehran.
Bessent's comments followed President Donald Trump's threat of "Economic Warfare" against Iran and a warning of economic consequences for any country providing a lifeline to Iran. According to Bessent, if the US is successful in applying maximum economic pressure, then a large-scale military operation is less likely.
The US sanctions have caused oil prices to rise to more than a three-week high. Thousands have been killed in the nearly six-month-old conflict, which has disrupted millions of barrels of Middle Eastern oil supplies and drawn in Gulf nations. Iran's Foreign Minister Abbas Araghchi responded to the US threats, branding them "economic terrorism" and saying they would fail.
Brief written by urgent.news from KBS World Radio, Al-Monitor, Business Recorder, The Vibes, Live Mint — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
