Business · World News Bureau
US Treasury chief vows economic measures to cripple Iran
Treasury Secretary Scott Bessent said new economic sanctions aim to severely damage Iran's economy, though officials remain unclear whether major trading partners like China will face pressure to enforce the measures.
LSN World News ·
US Treasury Secretary Scott Bessent said on Tuesday that the incoming administration plans to deploy economic measures designed to devastate Iran's financial system and industrial capacity.
Bessent did not elaborate on the specific nature of the proposed sanctions or their timeline for implementation. The Treasury chief's remarks signal a hardline approach toward Tehran as the US prepares to take office, aligning with campaign promises of a more aggressive foreign policy stance.
Key questions remain unresolved regarding the scope of enforcement. Officials have not clarified whether the administration intends to pressure major economies, particularly China, to comply with or support the sanctions regime. China maintains significant trade relationships with Iran and has previously resisted US-led isolation efforts against Tehran.
The announcement comes amid regional tensions and ongoing concerns about Iran's nuclear programme. Previous US administrations have implemented varying levels of economic pressure on Iran through targeted sectoral sanctions, though their effectiveness has been debated among policy analysts.