US Imposes 'Toughest Sanctions in History' on Iran as Hormuz Oil Flows Collapse

The United States is set to impose what Treasury Secretary Scott Bessent calls the 'toughest sanctions in history' on Iran, combining new economic measures with an existing U.S. blockade.

Bessent said on August 20 that details of the sanctions would be announced on August 24, targeting Iran's oil trade and financial links as part of the pressure campaign.

The administration is seeking cooperation from U.S. allies and other countries to restrict Iran's access to revenue and international commerce, describing the strategy as a 'one-two punch'.

Bessent emphasized that the goal was to reduce the likelihood of another large-scale military operation by applying maximum economic pressure on Tehran.