Trump Given Options to Crush Iran's Economy with China in Crosshairs

US Treasury Secretary Scott Bessent has presented President Donald Trump with five options for escalating economic pressure on Iran, according to a report by Fortune magazine and corroborated by Bloomberg. The disclosure comes as Bessent warned that Washington is preparing to announce unprecedented economic measures against Iran next week.

The most severe option targets the major Chinese banks that finance Iran's oil trade, which currently purchases more than 90 percent of Iran's oil exports. This would force Beijing into a confrontation with Washington at a delicate moment in their relationship, and could have consequences for global energy markets and American consumers.

Other options include targeting financial intermediaries in countries such as the UAE, applying secondary sanctions on foreign entities that continue to do business with Iran, seizing Iranian government assets within US jurisdiction, and expanding the targeting of vessels that facilitate the delivery of Iranian oil to buyers.