Trump Administration Plans Major New Economic Pressure Campaign against Iran

The Trump administration is preparing a potentially sweeping new economic pressure campaign against Iran, with Treasury Secretary Scott Bessent indicating that additional measures could be announced as early as next week.

Bessent suggested that the forthcoming actions could be significantly broader than previous sanctions, as Washington seeks to intensify pressure on Tehran amid the continuing US-Iran confrontation.

The administration is considering measures targeting Iran's oil revenues, financial networks, shipping industry and international trading partners.

Chinese “Teapot” Refineries Could Face Sanctions

One of the most significant potential measures could involve China's small, independent “teapot” refineries, many of which purchase Iranian crude.

Washington could impose secondary sanctions on these refineries for handling Iranian oil, potentially making it more difficult for Iran to maintain access to one of its most important export markets.

The US could also target Chinese banks suspected of processing revenues from Iranian oil sales or facilitating transactions connected to weapons purchases.

Such measures could increase the financial risks faced by Chinese companies that continue doing business with Tehran.

Pressure on Iran's Shadow Oil Network

The administration could also expand sanctions against Iran's extensive shadow tanker fleet, shipping insurers, oil purchasers and other companies accused of helping Tehran circumvent existing restrictions.

The goal would be to make it harder for Iran to export crude, receive payment and move revenues through the international financial system.

Since the beginning of Trump's second term, Washington has already sanctioned more than 1,000 Iran-linked individuals, vessels and aircraft, according to the report.

The US has also frozen an estimated $500 billion in Iran-linked cryptocurrency, adding another layer to its financial pressure campaign.

Land Blockade Also Discussed

Some US and Israeli officials have reportedly discussed the possibility of restricting Iran's overland trade through neighbouring countries.

Such a strategy could potentially place additional pressure on Iran's economy by limiting alternative routes for the movement of goods.

However, experts say enforcing a comprehensive land blockade would be extremely difficult because of Iran's geography, extensive land borders and established regional trading networks.

Trump Threatens Trading Partners With Tariffs

The administration has also threatened countries that continue conducting business with Iran with additional tariffs.

Such a policy could attempt to force third countries to choose between maintaining commercial relationships with Tehran and retaining favourable access to the US market.

However, the legal foundation for some proposed tariff measures has faced challenges, including scrutiny from the US Supreme Court.

A Broader Economic Offensive

The possible measures indicate that Washington is considering pressure well beyond traditional sanctions on Iranian government officials and companies.

By targeting oil buyers, banks, shipping companies, insurers and foreign businesses, the administration could attempt to make Iran's entire international trading network more expensive and difficult to operate.

The strategy would also put pressure on countries such as China that continue purchasing Iranian oil.

Whether Washington ultimately implements all of the measures remains unclear. But Bessent's comments suggest that the administration is preparing for a potentially major escalation of its economic campaign against Tehran.

If implemented on a large scale, the measures could significantly affect Iran's ability to export oil and access international financial markets, while also creating economic and diplomatic consequences for companies and countries that continue trading with Tehran.