US EditionBessent warns US will ramp up economic pain on Iran, says moves will be ‘financial equivalent’ of bombing campaign
- On Wednesday, Treasury Secretary Scott Bessent announced plans to ramp up economic pressure on Iran, threatening secondary sanctions against financial institutions in China, Hong Kong, the UAE, and Oman facilitating illicit activities.
- Shifting toward economic-focused efforts, the administration aims to choke Tehran into submission, viewing a blockade in the Strait of Hormuz as a 'checkmate move' to force a deal.
- Linked to the late Ali Shamkhani, a former adviser to Iran's Supreme Leader, an oil smuggling network was targeted by the Treasury Department, which warned these moves represent the 'financial equivalent' of a bombing campaign.
- While Vice President JD Vance promotes a 'grand bargain' to make Iran thrive, sanctions attorney Daniel Pickard warned that secondary sanctions could cause 'diplomatic and economic blowback' from allies opposing the conflict.
- As the administration prepares to engage with Chinese President Xi Jinping next month, skepticism persists among some Republicans, including Sen. Thom Tillis, regarding whether sanctions alone can work.
28 Articles
28 Articles
If the U.S. and Iran do not soon reach an agreement to end the war or extend the ceasefire that expires next week, the Trump administration is already preparing the ground to redirect its war campaign to a more focused effort in the economy, aimed at suffocating Tehran to subdue it rather than relying solely on the bombs. Treasury Secretary Scott Bessent said Wednesday to the media, in a White House briefing, that the U.S. plans to intensify eco…
Trump administration prepares for pivot to economic warfare on Iran
Treasury Secretary Scott Bessent told reporters at a White House briefing Wednesday that the U.S. plans to ramp up economic pain on Iran, and said the new moves will be the “financial equivalent” of a bombing campaign.
Associated Press News
From dropping bombs to pressuring banks: US pivots to economic warfare on Iran
The Trump administration is setting the stage to shift its war campaign toward a more economically focused effort aimed at choking Tehran into submission rather than relying on bombs alone.
Coverage Details
Bias Distribution
- 54% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
