HARIAN EXPRESS, WASHINGTON — The United States announced tougher sanctions against Iran on Thursday, August 20, as Washington escalated economic pressure on Tehran.
The United States plans to impose what Treasury Secretary Scott Bessent called the “toughest sanctions in history” against Iran as the administration of President Donald Trump seeks to intensify economic pressure on Tehran.
Bessent made the announcement during an interview with CNBC on Thursday, August 20, 2026. He said Washington would combine a blockade with sweeping economic measures designed to put further pressure on the Iranian government.
“This is a double punch. We are imposing a blockade, and we will impose the toughest sanctions in history,” Bessent said, according to the source report.
He also said the measures would achieve their objective in Iran and lead to the collapse of the government. Bessent said the administration would provide more details about the sanctions on Monday.
Trump Signals Broader Economic Pressure
Bessent’s announcement came one day after Trump said he had launched what he described as an “economic D-Day” against Iran.
Trump also warned countries and institutions that continue supporting Iran economically. He said any financial institution, business, airport or government entity that provides assistance to Iran would face what he called “extraordinary economic consequences.”
The administration’s latest threats come amid a broader confrontation involving Iran, the United States and the strategic Strait of Hormuz. According to the report, Washington has struggled to establish military control over the waterway while a ceasefire between the two sides has effectively collapsed.
Oil Prices Rise as Tensions Grow
The confrontation has also affected global energy markets. Brent crude oil, a key international benchmark, rose 2 percent on Thursday to $93.41 a barrel, according to the source report.
Higher energy prices create another challenge for the Trump administration as it attempts to contain rising borrowing costs. The conflict has also disrupted global shipping and pushed tanker rates sharply higher.
BWET, an exchange-traded fund that gives investors exposure to shipping rates, had gained 98 percent over the previous month, according to the report.
When asked about the rise in energy prices, Bessent said, “We have asymmetric information, and I am not sure why oil prices are rising because of this.”
Strait of Hormuz Remains a Major Flashpoint
The Strait of Hormuz remains central to the confrontation because it serves as a critical route for international energy shipments.
The source report said Iran continued attacking ships in the waterway. It also said the Houthis, an Iran-aligned group in Yemen, had imposed a maritime blockade affecting Saudi Arabia in the Red Sea.
Saudi Arabia relies heavily on maritime routes to export oil. The disruption has forced the kingdom to use pipelines to move crude toward the Mediterranean through Egypt, according to the report.
Details of New Iran Sanctions Remain Unclear
Despite Bessent’s announcement, the Trump administration has not yet disclosed the full details of the new Iran sanctions.
Bessent said the administration would provide more information at a news conference on Monday. It remains unclear whether Bessent, Trump or both will present the next phase of the policy.
The White House reportedly has several options under consideration. One possibility involves restoring an executive order issued in February that could impose a 25 percent tariff on countries that maintain direct or indirect trade relations with Tehran.
Another option could involve sanctions against companies, airports or other entities that conduct business with Iran.
Washington Pressures Its Allies
Bessent has also urged U.S. allies to join Washington’s campaign against Iran. He delivered a stark message to regional partners as the administration seeks broader international support for its economic strategy.
“You are either on our side, or you are against us,” Bessent told U.S. allies in the region, according to the source report.
The Treasury secretary also pointed to previous U.S. economic campaigns against countries such as Cuba and Venezuela. Trump has characterized the current strategy against Iran as an economic war.
Uncertain Timeline for Iran Pressure Campaign
Bessent did not provide a specific timeline for the confrontation with Iran when asked how long the standoff could continue.
His response left open the possibility of a prolonged economic campaign without a clearly defined end date. The Treasury secretary did, however, identify the administration’s central objective: forcing the Iranian government’s economy to collapse.
The planned sanctions represent a major escalation in Washington’s economic campaign against Tehran. The United States has not yet released the full package, leaving the scope and potential international impact of the measures uncertain.
For now, the administration has signaled that it intends to use economic pressure alongside its broader strategy toward Iran, while warning governments, businesses and financial institutions that continued economic ties with Tehran could bring severe consequences.
