Washington: The United States on Thursday called upon its allies and China to join its intensified campaign to isolate Iran's economy, as President Donald Trump aims to ramp up pressure on Tehran amid a deadlock in the ongoing conflict and mounting domestic criticism.
According to France24.com, the U.S. has issued a stern warning to its allies and China, urging them to support President Trump's new initiative aimed at crippling the Iranian economy. This move comes as Trump, under increasing scrutiny at home due to the war's impact and with critical midterm elections approaching, promised an unprecedented economic assault on Iran. Iran, in response, has labeled these threats as "economic terrorism" and expressed confidence in their failure.
U.S. Treasury Secretary Scott Bessent reiterated the President's stance, emphasizing the administration's commitment to applying economic pressure on Tehran, as the unpopular war nears its six-month mark. He stated that any connection to Tehran would lead to economic ruin for nations, regardless of whether it was intentional or not. Although specific measures against Iran remain undisclosed, Bessent promised further clarity during a scheduled press conference on Monday.
Vice President JD Vance highlighted the current strategy of leveraging economic pressure as the most potent tool against Iran, while acknowledging the delicate nature of the situation, as Iran could attempt to retaliate economically. In an interview with CNBC, Bessent suggested that discussions with China would be handled privately but urged Beijing to align with the U.S. initiative.
Bessent's remarks signal a return to the rhetoric of regime change in Iran, diverging from Trump's previous focus on preventing Tehran from acquiring nuclear weapons. He noted that the economic plan could reduce the likelihood of large-scale military actions against Iran, though he cautioned that this could change.
Iran, however, dismissed Trump's economic strategy, with its foreign ministry condemning the U.S. actions as violations of fundamental human rights and labeling them as crimes against humanity. Despite U.S. sanctions and a naval blockade, Iran continues to export oil, primarily to China, utilizing a fleet of tankers under international sanctions.
In a related development, Washington announced new sanctions targeting Hezbollah's financial network in Lebanon, underscoring its ties with Iran's Revolutionary Guards. Meanwhile, President Trump stated that negotiations with Iran were stalled, as the conflict initiated by the U.S. and Israel in February remains at an impasse, with the strategic Strait of Hormuz partially blocked by Tehran.
Trump's declaration of an unparalleled economic offensive against Iran reflects his growing frustration over the lack of progress on the military front. In a message on his Truth Social platform, he heralded the commencement of "the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY," describing it as unprecedented economic warfare and isolation.
To bolster its regional military presence, the U.S. has deployed a new aircraft carrier strike group to the Middle East, following criticism over conditions aboard the USS Abraham Lincoln, which faced severe issues during its deployment. The USS George Washington has arrived to replace it.
Additionally, the U.S. approved a potential $4.5 billion sale of refueling aircraft to Qatar, which has played a mediating role in Washington's conflict with Iran.