Treasury Secretary Scott Bessent said Thursday the U.S. will impose the toughest sanctions in history on Iran, after President Trump promised to wage “Economic Warfare and Isolation on an unprecedented scale.” Bessent told CNBC that U.S. economic pressure would eliminate the need for return to direct combat with Iran. He said tough new sanctions would “collapse” Iran’s government, and warned other nations could face severe economic penalties if they continue to trade with Iran.

Treasury Secretary Scott Bessent: “We are going to all of our allies, and this is going to be the greatest coordinated economic isolation in the history of the world. And we are going to them and saying, 'You are either with us or against us.'”

Iran’s Foreign Ministry condemned the threat of new sanctions as “illegal and inhumane.”