Trump Threatens More Economic Pressure on Iran Amid Escalating Tensions
US President Donald Trump has vowed to hit Iran hard economically, a day after Treasury Secretary Scott Bessent said that Washington would impose measures on Tehran that have 'never been seen' as soon as next week. The recent measures targeted Iran's shadow oil fleet, shipping insurers, and entities enabling the country's acquisition of weapons.
Experts say the Trump administration can try several options to increase pressure on Iran: sanctions on Chinese 'teapot' refiners, which account for a quarter of China's refinery capacity, or targeting Chinese banks that help fund Iranian oil purchases. However, these measures could have unintended consequences, including retaliatory actions from Beijing.
A land blockade, which would require assistance from Iran's neighbors, is another option being considered by US and Israeli officials. This move could increase pressure on the Iranian people by halting their imports of food, energy, and textiles.
The Trump administration has also sought to play down tensions between Washington and Beijing ahead of an expected meeting between Trump and President Xi Jinping later this year. However, experts warn that a sharp enforcement push against oil shippers, purchasers, and currency exchangers who help Iran pay for its imports could have significant consequences.