US threatens ‘toughest sanctions in history’ on Iran

The United States is preparing to impose what Treasury Secretary Scott Bessent has called the "toughest sanctions in history" on Iran, as part of an intensified economic pressure campaign. President Donald Trump has threatened "economic warfare" against Iran, warning countries providing any support to Iran that they could face severe economic consequences.

Bessent stated that details of the new sanctions package would be released next week, suggesting the campaign of maximum economic pressure could prevent a large-scale military operation. Oil prices rose to a three-week high following Trump's threats, as the conflict has disrupted millions of barrels of Middle Eastern oil supplies, with thousands killed in the ongoing conflict.

Iran has condemned the latest measures as "economic terrorism." Bessent appealed to China to support Washington's campaign, noting that Beijing depends on energy supplies from the Gulf and has significant trade with Iran, accounting for over 80% of Iran's shipped oil. China rejected the US approach, stating that sanctions and pressure would not resolve the crisis and called for responsible actions through political and diplomatic means. The US and Iran have previously announced ceasefire agreements, but both have quickly collapsed.