US vows to 'collapse' Iran with new sanctions as energy prices spike
US vows to 'collapse' Iran with new sanctions as energy prices spike The US will impose "the toughest sanctions in history” on Iran, Secretary of the Treasury Scott Bessent said on Thursday, vowing to ramp up economic pressure on the Islamic Republic even as the economic toll of the war builds. "It is a one-two punch. We have the blockade [on Iran], and we are going to have the toughest sanctions…
The United States has vowed to impose the toughest sanctions in history on Iran, with Secretary of the Treasury Scott Bessent stating that the regime will be "collapsed" as energy prices continue to spike. This economic D-Day comes as the US struggles to assert control over the Strait of Hormuz, where a ceasefire has collapsed. Oil prices have risen, with Brent Oil reaching $93.41 per barrel, posing challenges for the administration trying to control borrowing costs.
Iran's main source of revenue is oil sales, and the US has already imposed sanctions in the past. Bessent has indicated that the US may impose secondary sanctions on China, which relies heavily on Iranian oil. The UAE, a key financial hub for Iran, has halted all trade and financial transactions with the country.
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