What are Trump's options as US eyes 'never been seen' sanctions on Iran?
The Trump administration is considering unprecedented sanctions against Iran as the ongoing economic conflict approaches its six-month mark. Washington is pressuring global allies to join the campaign, while Iranian officials have warned that any country participating in these economic restrictions will be treated as an enemy.
Why it matters
The escalation of economic warfare between the US and Iran has significant implications for global oil markets and geopolitical stability in the Middle East.
Bessent is due to hold a press conference at 4am AEST on Tuesday. The United States, the United Nations and the European Union have applied sanctions, implemented trade embargoes and frozen Iranian assets since the late 1970s. Since the US and Israel launched the war on Iran in February, Washington has levied additional maritime, energy and financial sanctions and started a naval blockade. Iran — which has withstood decades of punishing sanctions — has denounced US plans to announce new sanctions and on Sunday warned countries against participating in the United States' "economic war" against the country. Washington has pushed its allies to jump aboard Trump's new campaign to isolate the Iranian economy, as the US president's unpopular war drags toward the six-month mark. "We declare to all countries ...
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