US Intensifies Economic Pressure on Iran, Urges Allies to Join Efforts
By Editor • August 21, 2026 • 2 min read
The United States has ramped up its campaign to isolate Iran economically, calling on both its allies and China to participate in this initiative. President Donald Trump seeks to intensify pressure on Tehran amid ongoing conflicts and increasing domestic scrutiny as the midterm elections approach.
On Thursday, US Treasury Secretary Scott Bessent reaffirmed Trump's commitment to an unprecedented economic offensive against Iran, declaring that the US aims to "collapse this regime." In response, Iran's leadership labeled these threats as "economic terrorism" and expressed confidence that they would ultimately fail.
Bessent emphasized the importance of applying maximum economic pressure on Iran, indicating that this strategy might reduce the need for military action. The Treasury Secretary stated, "If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart, but I will emphasize that is for now." He is expected to provide further details on the measures planned against Iran at a press conference on Monday.
Iran's Foreign Minister Abbas Araghchi criticized the US approach, suggesting that the focus on economic warfare is a distraction from America's own issues, including high debt and rising interest rates. The Iranian foreign ministry echoed this sentiment, condemning the US sanctions as violations of human rights and labeling them as crimes against humanity.
Despite severe sanctions and a naval blockade enforced by the US, Iran continues to find ways to export its oil, primarily to China, which remains its largest buyer. This has allowed Tehran to maintain a level of economic activity even under pressure.
As tensions rise, Trump has indicated that talks with Iran are currently off the table, particularly as the military situation in the region remains stagnant. The US has also bolstered its military presence, with a new aircraft carrier group, the USS George Washington, deployed to the Middle East to replace the USS Abraham Lincoln, which faced significant issues during its extended deployment.
The US's commitment to economic warfare against Iran comes as it simultaneously enhances its military readiness in the region, indicating a multifaceted approach to countering Tehran's influence.
Source: www.france24.com
