Treasury Secretary Scott Bessent said on Aug. 20 that the United States will impose the “toughest sanctions in history on Iran,” the details of which will be announced on Monday.
In an interview with CNBC on Thursday, Bessent said he planned to hold a press conference on Aug. 24 to share the Trump administration’s plan to increase economic pressure on Iran following months of military conflict. The Iran war, which started on Feb. 28, restarted last month following the collapse of a memorandum of understanding between Washington and Tehran.
“It is a one-two punch. We have the blockade, and we are going to have the toughest sanctions in history, and I will tell you this will work. It worked in Venezuela once we put up the blockade. It is working in Cuba right now, and it is going to work in Iran—and we are going to collapse this regime,” Bessent said….