US Unleashes Economic War on Iran

The United States  issued a stark warning to its allies and China to support a new economic campaign to "collapse" the Iranian government, saying that they would otherwise face tough consequences.

"This is going to be the greatest coordinated economic isolation in the history of the world. And we are going to them and saying you are either with us or against us," US Treasury Secretary Scott Bessent told broadcaster CNBC of his message to allies.

On whether the United States would pressure China, he said "many conversations are best to have in private," but called on Beijing "to get with the program."

Bessent called on other countries to support the US actions or face consequences.

"So it is time for our allies and the rest of the world to make a decision, and we are going to squash the economy of this murderous regime, which will curtail their ability to project power through their proxies," he said.

Washington has issued a raft of new economic sanctions since US President Donald Trump launched the war with Tehran in late February.

Bessent, however, insisted that this new slate of sanctions would work, and that "we are going to collapse this regime."

He added that the new pressure meant there likely would not be a ramp-up in US military operations against Iran "for now."