West Asia LIVE: U.S. says it will impose 'toughest sanctions in history' on Iran

West Asia LIVE: U.S. Notes it will impose 'toughest sanctions in history' on Iran U.S.

Key points

• President Donald Trump's threat a day earlier of "Economic Warfare" and warning of economic consequences against any country that provided "any type of lifeline to Iran."
• Trump's new campaign to isolate the Iranian economy, vowing that Washington would "collapse this regime" in Tehran.
• Oil rates ⁠rose to more than a three-week high on Thursday after those U.S.
• Notes it will impose 'toughest sanctions in history' on Iran U.S.

West Asia LIVE: U.S. Notes it will impose 'toughest sanctions in history' on Iran U.S. Cautioned allies and China to join Mr. Trump's new campaign to isolate the Iranian economy, vowing that Washington would "collapse this regime" in Tehran. U.S. Treasury Secretary Scott Bessent. File Photo Credit: Reuters.

U.S. Treasury chief Scott Bessent remarked the United States will impose "the toughest sanctions in history" on Iran, a move he suggested would lessen the need for new major military operations.

Mr. Bessent's comments ‌on Thursday (August 20, 2026) followed U.S. President Donald Trump's threat a day earlier of "Economic Warfare" and warning of economic consequences against any country that provided "any type of lifeline to Iran."

Meanwhile, U.S. Cautioned allies and China to join Mr. Trump's new campaign to isolate the Iranian economy, vowing that Washington would "collapse this regime" in Tehran.

Oil rates hit three-week high on U.S. Threats to end war.

Oil rates ⁠rose to more than a three-week high on Thursday after those U.S. Threats of financial penalties aimed at forcing an end to a almost six-month-old war that has stranded millions of barrels of oil.

Taken together, the developments around west Asia LIVE: U.S. Says it will impose ' toughest sanctions in history' point to a situation that is still moving, and the coming days should bring more clarity.