Trump Vows to Intensify Economic Pressure on Iran with New Sanctions Coming Next Week

US President Donald Trump has vowed to intensify economic pressure on Iran, following Treasury Secretary Scott Bessent's announcement that new measures would be implemented as early as next week. The US has already imposed numerous sanctions and trade embargoes on Iran since the late 1970s, citing its nuclear program, human rights violations, and support for militant groups.

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 began his second term. Recent measures targeted Iran's shadow oil fleet, shipping insurers, entities enabling Iran's weapons acquisition, and digital exchanges, freezing an estimated $500 billion in Iran-linked cryptocurrency.

Experts suggest that the Trump administration could consider additional options to pressure Iran economically. These include imposing sanctions on Chinese 'teapot' refiners, which account for a quarter of China's refinery capacity, as well as targeting Chinese banks that process Iranian oil and help fund weapons procurement.