US to Impose 'Toughest Ever' Sanctions on Iran, Treasury Secretary Bessent Says

U.S. Treasury Secretary Scott Bessent announced on Thursday that the United States will impose "the toughest sanctions in history" on Iran, with specific details to be revealed at a press conference on Monday. The move signals a significant escalation of Washington's economic pressure campaign against Tehran amid ongoing geopolitical tensions.

'Maximum Pressure' Campaign

Speaking in an interview with CNBC, Bessent described the forthcoming measures as part of a "one-two punch" that combines an existing blockade with unprecedented economic restrictions. "We are going to have the toughest sanctions in history," Bessent stated, adding that the administration's goal is to "collapse this regime."

The Treasury Secretary's comments follow a warning from President Donald Trump on Wednesday, who threatened economic consequences for any nation providing "any type of lifeline to Iran." This policy is being enacted nearly six months after the U.S. and Israel began a war in the region.

Market Reaction and Official Commentary

The heightened geopolitical risk contributed to a surge in oil prices, which climbed to more than three-week highs on Thursday. However, Bessent suggested that commodity markets may be misreading the situation.

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"I think oil markets are misinterpreting what this economic pressure means," he told CNBC. Bessent argued that applying "maximum economic pressure" could make a "large-scale kinetic restart" of military conflict less likely, a view that runs counter to the market's apparent pricing of increased risk.

Call for China's Cooperation

Bessent explicitly urged China to cooperate with the U.S. sanctions effort, highlighting Beijing's significant economic ties to Iran. According to 2025 data from analytics firm Kpler, China purchases more than 80% of Iran’s shipped oil.

"Keep in mind that the Chinese get 50% (of their) energy from inside the Gulf. So it would do them a big service to get with the program," Bessent said. When asked if the U.S. would target China for its business with Iran, he stated that many such conversations were best held in private.