Trump Admin Prepares 'Unprecedented' Economic Blow Against Iran

The Trump administration is set to announce 'unprecedented economic measures' against Iran next week, according to Treasury Secretary Scott Bessent. The move aims to apply 'measures like have never been seen in the history of economic isolation on a country,' Bessent said.

The US will continue its blockade of Iran's ports as part of a 'one-two punch' to further pressure Tehran financially. Iran's economy has already taken a hit from the war, with much of its industrial capacity destroyed and crude exports severely curtailed by the US blockade.

Prior to this announcement, President Donald Trump renewed his administration's push for economic pressure on Iran, saying 'we are just watching Iran with its huge inflation and the fact they have no money.' The Strait of Hormuz remains a point of contention between the two nations, with both sides claiming control over the waterway that handles one-fifth of the world's oil and gas shipments.