Trump Unleashes Economic Fury on Iran's Economy
The Trump administration is shifting its strategy in dealing with Iran's economy, opting for economic pressure to bring about change. The US has been sanctioning Iran for decades, but this time around, it seems they're willing to take it further.
According to the White House official, the sanctions and naval blockade have left Iran 'completely broke.' This new approach is dubbed 'Operation Economic Fury,' led by Secretary Scott Bessent. The goal is to devastate the Iranian economy and make it difficult for them to sell their oil or get the proceeds home.
The US can still tighten the screws on Iran, but each step up the sanctions ladder brings greater diplomatic costs. One option could be to hit China and India, the two biggest buyers of Iranian oil, by imposing penalties on entities that facilitate these purchases. However, this would also risk opening another front with Beijing ahead of a planned meeting between Trump and Chinese President Xi Jinping.