US Treasury Secretary: Crushing Iran's economy will eliminate the need for large-scale military operations
Washington, Aug 20 (KUNA) – U.S. Treasury Secretary Scott Bessent suggested on Thursday that “crushing the Iranian regime’s economy” could obviate the need for large-scale military operations, while affirming the inevitability of its “overthrow.” Bessent’s remarks came in an interview with the U.S. news network CNBC, hours after President Donald Trump announced the “start of an unprecedented economic war on Iran,” which would target any country that assists Tehran.
The secretary stated, “If we apply maximum economic pressure, it is likely that large-scale military operations will not be necessary,” adding that “the United States will impose the largest coordinated economic isolation in world history on Iran.” He noted that he would hold a press conference next Monday “to discuss in detail what we will do,” clarifying that “the United States will send a message to all our allies: you are either with us or against us.”
He further explained that any commercial dealings with Iran—whether through financial transfers, purchasing its oil, or conducting maritime shipping—would prompt the Treasury Department and the U.S. government to wield their full power and weight to take stringent measures. “It is time for our allies and the rest of the world to take a stand,” he said.
Bessent noted that the economic pressure campaign would run in tandem with the ongoing U.S. naval blockade of Iranian ports, describing it as a “double blow: we have the blockade, and we will impose the harshest sanctions in history.”
President Trump had announced the previous day the launch of an “unprecedented economic war” on Iran, two days after Washington suspended negotiations with Tehran following their failure to reach an agreement. In a post on his Truth Social platform, Trump wrote, “No one has given Iran a greater opportunity than I have to reach an agreement… Unfortunately, they missed this opportunity, so today I am announcing the strongest economic action ever taken against any country,” affirming that it would be “an economic war and isolation on an unprecedented scale.”
He added that Iranians’ “naval power has faded, their air forces have been destroyed, their military factories have been reduced to rubble, their currency has lost its value, and their country is hanging by a thread.” (End) R.S.R./M.S.A.
