U.S. Treasury Secretary Scott Bessent stated that Washington is preparing to exert unprecedented economic pressure on Iran .
The Trump administration has not disclosed which measures it is considering, but there are several areas the U.S. Treasury Department could focus on, according to Bloomberg.The main problem is that certain actions could also have serious repercussions for the U.S. economy.
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As Bloomberg Economics analyst Chris Kennedy, if President Donald Trump does not decide to prioritize addressing the Iranian threat over other issues—primarily China— it is unlikely that the new measures will substantially alter Tehran’s calculations.
Relations with China
China purchases more than 90% of Iran’s oil exports. Therefore, imposing sanctions on companies and organizations that facilitate these purchases could directly impact Tehran’s revenue.
The U.S. has already imposed sanctions on certain Chinese refineries and companies, but to date has avoided targeting the major Chinese banks that finance the trade.
Such a move could strain relations between Washington and Beijing, particularly in light of Trump’s planned meeting with Chinese President Xi Jinping. At the same time, the removal of Iranian oil from the global market could further drive up already high oil prices.
In May, Beijing ordered Chinese companies not to enforce U.S. sanctions against five refineries, while China’s largest banks found themselves caught between the government’s demands and the risk of losing access to the U.S. financial system.
Foreign exchange companies
Another point of pressure is foreign exchange companies, particularly in countries such as the United Arab Emirates. Through these firms, Iran can convert revenue from oil sales—often in Chinese yuan—into currencies it can use.
The Treasury Department has already imposed sanctions on certain Iranian currency exchange companies as part of the “Economic Fury,” accusing them of helping to launder billions of dollars.
However, the effectiveness of such a strategy has its limits. Iran has spent years creating alternative channels for transferring money outside the official financial system. Shutting down specific companies may therefore simply lead to new intermediaries, different currencies, or digital assets.
Iran’s Trading Partners
Washington could also impose secondary sanctions on any company or bank that continues to do business with Iran.
Such a policy would force foreign companies to choose between the Iranian market and access to the U.S. financial system, significantly expanding Washington’s influence.
The measure could put pressure on countries such as Russia and China, as well as Iran’s neighbors, including Turkey, which maintains significant trade ties with Tehran.
Trump has already hinted at a similar policy, threatening to impose 25% tariffs on countries that trade with Iran, though he has not yet moved to implement them.
Overseas Assets
The U.S. could go beyond freezing Iranian state assets and attempt to seize those located within U.S. jurisdiction.
Such a move could be based on a precedent set by the George W. Bush administration following the 2003 invasion of Iraq. However, the Iranian state assets that are actually within U.S. reach are likely to be limited.
Furthermore, seizure would be far more complex legally and diplomatically than a simple freeze. Much of Iran’s wealth is held in third countries, a fact that would require the cooperation of those governments.
The “shadow fleet”
Finally, Washington could ramp up pressure on the so-called “shadow fleet” that Iran uses to transport oil and other goods.
The U.S. naval blockade has already restricted traffic to Iranian ports, but a more comprehensive operation could target not only individual ships but also the companies, terminals, and other infrastructure that enable the network to function.
The U.S. has already imposed sanctions on ships and companies linked to the “shadow fleet.” The question now is whether the Trump administration will escalate these measures and, above all, whether it will be able to do so without incurring significant economic costs for the United States itself.
Source: Iefimerida.gr
