Bessent Presents Trump With Five Options to Crush Iran's Economy

US Treasury Secretary Scott Bessent has presented President Donald Trump with five options to intensify economic pressure on Iran, including targeting Chinese banks that finance over 90% of Tehran's oil exports.

The most severe option involves sanctioning major Chinese banks, which would force Beijing into a confrontation with Washington at a delicate time in their relationship.

Targeting China's major banks carries the risk of pushing global oil prices sharply higher and hitting American consumers at the pump just before the midterm elections.

The five options range from targeting exchange houses and financial hubs to seizing Iran's external assets and expanding the shadow fleet campaign.