Trump Unleashes 'Economic Tsunami' on Iran with New Sanctions

US President Donald Trump has pledged to increase economic pressure on Iran by introducing measures that have 'never been seen' as early as next week, according to Treasury Secretary Scott Bessent. The US has applied sanctions, trade embargoes, and asset freezes against Iran since the late 1970s over its nuclear program, human rights record, and support for militant groups.

The Trump administration has already sanctioned more than 1,000 people, vessels, and aircraft since Trump's second term began. Recent measures have targeted Iran's shadow oil fleet, shipping insurers, and parties linked to Iran's weapons procurement, as well as digital exchanges holding an estimated $500 billion in Iran-linked cryptocurrency.

The US has also imposed maritime, energy, and financial sanctions on Iran, and launched a naval blockade that has left oil shipments through the Strait of Hormuz at a standstill. Tehran has threatened to strike unauthorized tankers attempting passage.