US to impose ‘toughest sanctions in history’ on Iran

Meanwhile, the Economic Times daily newspaper is available online now.

Key points

• Canada Class Action Lawsuit: $8.7 million settlement offers eligible Canadians up to $5, 000 – Check who qualifies and how to claim compensation.
• Bessent additionally pressed China to cooperate with Washington, highlighting Beijing's dependence on energy supplies flowing through the Gulf and its economic ties with Iran.
• US sanctions on IranScott BessentIran economic pressureTrump sanction strategyChina Iran oil tradeMiddle East conflictUS Treasury Secretaryglobal oil pricesIran nuclear dealUS fiscal deficit.
• New Brunswick Crime News: 2 men discovered dead in Knowlesville home, cops launch probe.
• Quote of the Day by Charles Dickens: 'There are dark shadows on the earth, but its lights are.' – Value of hope after hardships.

US to impose 'toughest sanctions in history' on Iran; Scott Bessent bets on 'one-two punch' to cripple Iranian regime.

As the Trump administration seeks to intensify economic pressure on Tehran, US Treasury Secretary Scott Bessent remarked Washington will impose the "toughest sanctions in history" on Iran, with details anticipated Monday. Bessent additionally called on China to cooperate, citing its dependence on Gulf energy and warning against sustaining Iran's economy.

In practice, the United States will unleash what Treasury Secretary Scott Bessent described as the "toughest sanctions in history" against Iran, escalating Washington's economic pressure campaign as it seeks to force Tehran into submission against the backdrop of the ongoing conflict in the region. Bessent remarked the sanctions would complement the existing blockade imposed on Iran, calling it a "one-two punch" that he believes will cripple the Iranian regime. He remarked he would outline the measures in detail at a press conference scheduled for Monday.: Iran dismisses US economic threats and other developments in the Middle East.

"It is a one-two punch. We have the blockade, and we are going to have the toughest sanctions in history, " Bessent told CNBC, adding, "It is going to work in Iran and we are going to collapse this regime." The Treasury Secretary additionally called on US allies and other countries to decide whether they would backing Washington's pressure campaign, saying the time had come for the international community to choose its position. Live Events.

His remarks came a day after President Donald Trump cautioned that countries offering "any type of lifeline to Iran" could face economic consequences, signalling that the administration may widen its efforts beyond Tehran to target nations sustaining the Iranian economy. Bessent, nevertheless, suggested that tougher economic action should not necessarily be interpreted as a precursor to renewed large-scale military escalation. Responding to the recent rise in oil rates, he stated markets appeared to be misreading the implications of Washington's strategy. "I think oil markets are misinterpreting what this economic pressure means, " he remarked, arguing that maximum economic pressure could instead reduce the likelihood of a major kinetic restart. Oil rates rose to their highest level in more than three weeks on Thursday. Iran has endured extensive US sanctions for almost five decades since the 1979 Islamic Revolution, with successive administrations imposing restrictions on its banking, energy and trade sectors. Iranian Foreign Minister Abbas Araqchi dismissed Trump's latest warning as an attempt to divert attention from America's domestic economic challenges, including rising debt and interest rates. China pressed to cooperate as Iran oil trade comes under focus.

Bessent additionally pressed China to cooperate with Washington, highlighting Beijing's dependence on energy supplies flowing through the Gulf and its economic ties with Iran. Asked whether the US could directly target China over its continued business with Tehran, Bessent avoided giving a clear answer, saying sensitive discussions were better handled privately. "We are confident that everyone wants the Strait of Hormuz reopened, and for energy prices to come back down, " he remarked. "Keep in mind that the Chinese obtain 50% of their energy from inside the Gulf. So it would do them a major service to secure with the program." China purchases more than 80% of Iran's seaborne oil exports, according to 2025 data from analytics firm Kpler, making it Tehran's largest oil customer. Any move by Washington to intensify economic action against Beijing could additionally risk retaliation, given China's role as a major exporter to the US and a key supplier of critical rare-earth minerals. China's embassy in Washington did not immediately respond to a request for comment on Bessent's remarks.: Trump declares 'Economic D-Day' against Iran, warns nations aiding Tehran of 'tremendous' consequences Tariff refunds widened deficit, new duties projected to sustain revenues.

Separately, Bessent remarked the US fiscal deficit had been pushed higher this year by refunds linked to Trump's tariffs that were struck down by the Supreme Court. He remarked the impact would not carry into next year as fresh tariffs are now being imposed under alternative trade laws that have survived legal challenges. Though he did not clarify whether he was referring to calendar or fiscal-year collections, according to Bessent, tariff revenues in 2026 are projected to broadly match those collected in 2025. The Treasury Secretary additionally pointed to another factor weighing on administration revenues: a surge in factory and data centre construction. Under the Republican 2025 tax cut legislation, firms are allowed to immediately expense such investments against profits, resulting in lower corporate tax collections, he stated. Add Now!

Ontario man faces serious charges as he threatens to release dog and employ firearms at Nova Scotia Campground.

Ontario Tragedy: Woman dies after being 'swept into the water' in Mississauga, say police.

Thomas Edison Quote of the Day: 'To have a great idea, have a.' Renowned inventor's golden words on creativity, possibilities and innovation.

Quote of the Day by Hans Jonas: 'Act so that the effects of your actions are compatible with the permanence of.'- German philosopher on protecting the future through every choice.

Quote of the Day by Dolly Parton: 'I'm not going to limit myself just since residents won't accept the fact that.' Country music icon's inspiring words on breaking barriers with self-belief and resilience.

Quote of the Day by Ramon Llull: 'Man is nobler for his knowledge than for the gold and goods he possesses, even though these be.' Timeless wisdom by Catalan poet.

Quote of the Day by Oscar Wilde: 'To love oneself is the beginning of a.' Irish poet's powerful wisdom on self worth and compassion.

Quote of the Day by Albert Einstein: 'I have no special talent, I am only.'; Nobel Prize winning scientist's timeless wisdom on curiosity and talent.

Quote of the Day by Mother Teresa: 'I alone cannot change the world, but I can cast a stone throughout the waters to.'

Taken together, the developments around US to impose 'toughest sanctions in history' on Iran point to a situation that is still moving, and the coming days should bring more clarity.