Skip to main content
See every side of every news story
Published loading...Updated

Trump announces ‘Economic Warfare’ on Iran, threatens ‘tremendous’ consequences for its backers

  • Treasury Secretary Scott Bessent announced this week that President Donald Trump is prepared to order new sanctions on Iran to punish its economy, marking an escalation in economic pressure.
  • The administration favors economic warfare, touting its naval blockade of the Strait of Hormuz, after a 60-day memorandum of understanding between the U.S. and Iran expired with no replacement agreement.
  • Escalating pressure targets an Iranian economy suffering 65% inflation over the past year, with officials considering sanctions on Chinese banks despite concerns about harming American economic interests.
  • Mohammad Ghalibaf, Iran's parliament speaker, wrote on X Tuesday that the U.S. was "trying to pull a rabbit out of their hat" and that squeezing Iran will not win concessions.
  • Trump, who is "not in a hurry" for a solution, maintains a long-term approach while Energy Secretary Chris Wright said the administration aims to leave the next generation without nuclear threats.
Insights by Ground AI
Podcasts & Opinions

455 Articles

The U.S. President is on the verge of the interim elections with his back to the wall. Not a single war goal has he achieved.

·Berlin, Germany
Read Full Article

Donald Trump announced an unprecedented "economic war" and isolation against Iran. Know the threats to countries that help Tehran.

Center

Trump threatens all states with consequences that Iran continues to support economically.

·Munich, Germany
Read Full Article
MeduzaMeduza
Reposted by
tvrain.tvtvrain.tv
Left

President Donald Trump of the United States announced that he was starting an "economic war" against Iran, about which he wrote on the Truth Social social network.

·Riga, Latvia
Read Full Article
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 38% of the sources are Center, 37% of the sources lean Right
38% Center

Factuality Info Icon

To view factuality data please Upgrade to Premium

Ownership

Info Icon

To view ownership data please Upgrade to Vantage

Political Wire broke the news in New York, United States on Tuesday, August 18, 2026.
Too Big Arrow Icon
Sources are mostly out of (0)

Similar News Topics

News
Feed Dots Icon
For You
Search Icon
Search
Blindspot LogoBlindspotLocal