What Bessent’s economic isolation of Iran could look like

U.S. Treasury Secretary Scott Bessent speaks to reporters at the White House in Washington last October. | REUTERS

Aug 16, 2026

U.S. Treasury Secretary Scott Bessent says Washington is getting ready to squeeze Iran with unprecedented economic pressure, a claim critics greeted with skepticism given the country is already subject to a naval blockade and thousands of sanctions.

While the Trump administration hasn’t said what it’s planning to do, there are still pressure points that Bessent’s Treasury Department could hit. The main challenge is that targeting the remaining options risk blowback on the U.S. economy. 

“Unless the president decides to prioritize addressing the Iran threat over all other issues, and namely China, it’s unlikely any action they take is going to materially change Iran’s calculus,” Bloomberg Economics analyst Chris Kennedy said.

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