Treasury Secretary Scott Bessent has now reportedly indicated that President Donald Trump plans to implement aggressive sanctions aimed at crippling Iran’s Islamic regime and pressuring Russia to negotiate an end to its war in Ukraine.
Speaking at the Economic Club of New York, Bessent outlined a strategy focused on shutting down Iran’s oil sector and drone manufacturing capabilities while cutting off the regime’s access to the international financial system.
Bessent emphasized that the goal is to make Iran financially incapacitated, warning that if he were an Iranian, he would withdraw all funds from the rial immediately.
“We are going to shut down Iran’s oil sector and drone manufacturing capabilities,” Bessent said.
“Making Iran broke again will mark the beginning of our updated sanctions policy,” he added. “If I were an Iranian, I would get all my money out of the rial now.”
This announcement comes in light of reported assassination attempts against Trump by Iran, including attempts to smuggle missiles into the U.S. Trump has previously stated that any such attacks would result in severe retaliation against Iran.
In addition to targeting Iran, Bessent discussed the need for tougher sanctions on Russia to compel them to the negotiating table and bring about an end to their ongoing aggression in Ukraine.
He criticized the Biden administration’s previous sanctions on Russian energy, suggesting they were insufficient and politically motivated.
According to Bessent, the administration’s lack of robust sanctions has allowed Russia to sustain its military operations.
He reaffirmed that the current administration will not hesitate to impose comprehensive sanctions on Russian energy if it serves to facilitate peace negotiations.
Bessent’s remarks reflect a broader commitment to using economic measures as a means of influencing both Iran and Russia, aiming for significant changes in their behaviors and policies through strategic sanctions.
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