US TREASURY CHIEF THREATENS 'TOUGHEST SANCTIONS IN HISTORY' ON IRAN

The United States on Thursday announced plans for severe economic measures against Iran, with Treasury Secretary Scott Bessent declaring that new sanctions would "collapse this regime" in Tehran. Bessent told CNBC that Washington would apply "the toughest sanctions in history" alongside a blockade on Iran, framing the strategy as "the greatest coordinated economic isolation in the history of the world". President Donald Trump had made similar statements a day earlier, promising "the most crushing economic operation ever taken against any country" against Iran. The announcements come as the United States enters a war with Iran that has lasted nearly six months.

Bessent warned that countries continuing to trade with Iran—whether through oil purchases, money transfers, or ship transport—would face US economic penalties. He told nations they must decide whether to align with Washington or face consequences, stating: "You're either with us or against us." Vice President JD Vance characterised economic pressure as "the most effective tool" available to the administration. Bessent said additional details about the planned measures would be provided at a press conference on Monday. Chinese President Xi Jinping is scheduled to visit the White House on 24 September, and when asked about pressuring China, Bessent said "many conversations are best to have in private" but called on Beijing "to get with the programme".

Iran responded by branding the US threats as "economic terrorism" and said they would fail. Neither Trump nor Bessent has specified what measures they plan to implement or whether powerful countries such as China would face enforcement. The escalation reflects Trump's domestic political situation, with midterm elections approaching and the war generating criticism at home.