US Treasury secretary says new economic measures will ‘collapse’ Iran

What the report says

US Treasury Secretary Scott Bessent said on Thursday that Washington is preparing a new round of economic pressure intended to isolate Iran and force change in Tehran. In remarks to CNBC, he said the administration would use what he described as the toughest sanctions in history and warned that countries doing business with Iran could also face U.S. penalties. The comments came after President Donald Trump the previous day vowed an exceptionally severe economic campaign against Iran.

Bessent did not say whether major trading partners such as China would be targeted directly. He suggested the administration would press other governments to stop buying Iranian oil, moving money for Iranian entities, or providing shipping support. According to Al Jazeera, he framed the approach as a broad international effort and argued that weakening Iran would also lower energy prices and help reopen the Strait of Hormuz.

The report said the latest statements were paired with new U.S. sanctions announced Thursday against Iran and its allies, including 10 people linked to Hezbollah, the Iran-backed Lebanese group. One of those designated was identified as a Turkish businessman accused of helping funnel funds to Hezbollah.

Al Jazeera noted that the pressure campaign comes amid the wider war involving Iran and Israel, along with U.S. efforts to limit Iranian access to global trade routes and oil revenue. The article also pointed out that sanctions have long been a central U.S. tool against Iran, though critics question whether they can achieve broader goals such as regime change.