Trump Ramps Up Economic Pressure on Iran with New Sanctions Looming

US President Donald Trump has vowed to increase economic pressure on Iran after Treasury Secretary Scott Bessent hinted at new measures that could be announced as early as next week. The US, along with the United Nations and European Union, have imposed various sanctions on Iran for decades due to concerns over its nuclear program, human rights violations, and support for militant groups.

Since the conflict involving Iran began in February, Washington has expanded its measures to include additional maritime, energy, and financial sanctions, as well as a naval blockade. Data from the US Treasury Department's Office of Foreign Assets Control (OFAC) shows that over 1,000 individuals, vessels, and aircraft have been sanctioned since Trump started his second term.

Recent US measures have focused on Iran's oil industry, targeting its shadow oil fleet, shipping insurers, and companies accused of helping Tehran acquire weapons. The US has also targeted digital exchanges, freezing an estimated $500 billion in Iran-linked cryptocurrency.