DUBAI: The United States has threatened to impose what Treasury Secretary Scott Bessent described as “the toughest sanctions in history” against Iran, arguing that intensified economic pressure could reduce the need for further large-scale military action. Tehran, however, warned that any new threats would be met with a “devastating” response.
Bessent made the remarks on Thursday, a day after President Donald Trump threatened “Economic Warfare” and warned of consequences for any country providing “any type of lifeline to Iran”. The treasury secretary said further details of the sanctions would be announced next week.
Oil prices rose to their highest level in more than three weeks following the US threats of additional financial penalties.
“I’m not sure why oil has popped up on this,” Bessent told CNBC. “If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart,” he said, using a term referring to military force.
“We are going to collapse this regime. It is time for our allies and the rest of the world to make a decision,” he said, describing a naval blockade reimposed on Iran in July and the “toughest sanctions in history” as a “one-two punch”.
Asked whether the United States could also take action against China over its business dealings with Iran, Bessent said some discussions were better held privately.
China calls for diplomacy
China rejected Washington’s push for countries, including Beijing, to help isolate Iran economically, saying sanctions and pressure would not bring an end to the conflict.
Responding to the US threats, Chinese foreign ministry spokesman Lin Jian said, “sanctions and pressure will not help resolve the issue”. He said, “China calls on all relevant parties to take responsible measures and resolve the problem through political and diplomatic means.”
Lin also reiterated China’s opposition to unilateral sanctions that lack a basis in international law or authorisation from the UN Security Council.
“China opposes illegal unilateral sanctions that have no basis in international law and are not authorised by the UN Security Council,” Lin said.
‘Devastating response’
Iran warned that its armed forces were prepared to respond forcefully to any fresh US threats.
“With preparedness across land, sea, air, air defence and cyberspace, Iran’s armed forces will respond to the enemy’s new threats with crushing, punishing and devastating responses,” said Chief of Staff of Iran’s Armed Forces, Major General Ali Abdollahi.
Foreign Minister Abbas Araghchi also dismissed the latest US pressure campaign, pointing to previous American attempts to economically isolate Iran.
“14 years ago: ‘Most crippling sanctions in history.’ Failed. 8 years ago: ‘Maximum pressure.’ Failed. 5 months ago: ‘Unconditional surrender.’ Failed. Today: ‘Most crushing economic operation ever.’ Bound to fail. We have seen this movie before. Same bull. Different bullies,” he posted.
Meanwhile, Iranian President Masoud Pezeshkian said Tehran was in a position of strength and that the months-long war with the United States should now be brought to an end.
“It is better that we bring the war to an end now as we are in a position of power and dignity,” Pezeshkian said in a meeting with doctors.
