Trump Administration Threatens Iran with Global Economic War, Sanctions Oil

US Treasury Secretary Scott Bessent announced a campaign of economic pressure against Iran on Monday, targeting all revenue sources including oil, without specifying the "crushing measures" previously promised by President Donald Trump. Washington identified five sectors for potential secondary sanctions: digital assets, technology, gold, aviation, and shipping. Bessent warned Iran's "facilitators" to stop buying oil and trading with Tehran, saying entities would face exclusion from the US dollar system and that a major financial institution would be sanctioned by week's end. Bessent declined to set specific deadlines for countries to cut economic ties with Iran, stating "our patience is not unlimited." He said Trump is communicating with world leaders on demands to cooperate in isolating Tehran economically, without naming the countries involved.