The administration of US President Donald Trump is preparing to intensify economic pressure on Iran. Treasury Secretary Scott Bessent has announced that Washington is expected to unveil, in the coming days, measures never before seen in the economic isolation of a state.
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It is not yet known what the new package will specifically include. According to experts interviewed by Radio Free Europe, a truly extraordinary step could go beyond imposing new sanctions on Iranian companies. The focus could be on the international financial and trade networks that have allowed Tehran to continue exporting oil despite decades of pressure from the United States.
Such measures could affect Chinese banks, yuan-denominated transactions for Iranian oil, alternative payment mechanisms, as well as the shipping, insurance and refining companies and financial intermediaries involved in these agreements.
“Keep your eyes here for more announcements next week, because we will implement measures the likes of which have never before been seen in the history of a country’s economic isolation,” Bessent said. He explained that these measures would be part of a “two-step strike,” which would be accompanied by the continuation of the blockade of Iranian ports.
The White House has provided no further details about the plan. Asked about the expected actions, spokesperson Karoline Leavitt said: “we have other tools at our disposal that we can use to continue punishing Iran and paralyzing its economy, which is already in very poor condition”.
According to the US administration, Iran is facing rising inflation, declining energy revenues, poverty and restrictions on securing foreign currency. A Pentagon assessment published by The Hill concluded that the first phase of the US blockade, carried out from April 13 to June 18, caused Iran losses of about $4.8 billion in oil revenues.
