Trump wants more economic pressure on Iran. What are his options?
REUTERS — US President Donald Trump on Friday vowed to hit Iran hard economically, a day after Treasury Secretary Scott Bessent said that Washington would impose measures on Tehran that have “never been seen,” as soon as next week.The United States, United Nations and European Union have applied sanctions, implemented trade embargoes and frozen assets since the late 1970s over Iran’s nuclear program, human rights violations and support for militant groups.Since the Iran war began in February, Washington has levied additional maritime, energy and financial sanctions and started a naval blockade.Data from the US Treasury Department’s Office of Foreign Assets Control (OFAC) shows the agency has imposed sanctions on more than 1,000 people, vessels and aircraft since Trump began his second term.Recent measures have targeted Iran’s shadow oil fleet; shipping insurers; entities and people enabling Iran’s acquisition of weapons; and digital exchanges, freezing an estimated $500 billion in Iran-linked cryptocurrency.Experts…
US President Donald Trump has vowed to intensify economic pressure on Iran, with Treasury Secretary Scott Bessent indicating that unprecedented measures would be implemented soon. Since the Iran war began in February, Washington has already imposed additional maritime, energy, and financial sanctions, alongside a naval blockade. The Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned over 1,000 entities and individuals, freezing an estimated $500 billion in Iran-linked cryptocurrency.
- Experts suggest further options include targeting Chinese independent refineries, which purchase over 80% of Iran’s shipped oil, and imposing secondary sanctions on larger Chinese banks, though this risks retaliation from Beijing.
- The US could also continue to target individuals and entities in China and the Gulf that help Iran evade sanctions, though some experts describe this as a “whack-a-mole” approach.
- Further aviation sanctions are possible to degrade Iran’s trade capabilities following the Strait of Hormuz blockade.
- A land blockade, requiring cooperation from Iran’s neighbors, has been floated, but experts warn it would be difficult to execute and might not yield desired results.
- Trump has also threatened tariffs on countries doing business with Iran, and a recent Senate bill, if passed by the House, could grant him new tariff powers.
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