The Trump administration is taking the gloves off against America’s adversaries, with a new sanctions strategy that promises to deliver a knockout blow to Iran and Russia. Treasury Secretary Scott Bessent just revealed plans that could cripple these regimes where it hurts most – their wallets.
At a glance:
- Treasury Secretary Scott Bessent announced “maximum impact” sanctions targeting Iran and Russia
- Iran sanctions aim to shut down oil sector, drone manufacturing, and cut off international financial access
- Russia sanctions intended to pressure Putin into Ukraine peace negotiations
- Bessent criticized Biden administration for “egregiously weak” energy sanctions on Russia
- The strategy follows alleged Iranian assassination attempts against Trump
Trump Administration Ready to Crush Iran’s Economy
U.S. Treasury Secretary Scott Bessent declared the Trump administration’s intent to impose devastating sanctions on Iran during his address at the Economic Club of New York. The aggressive economic measures will target Iran’s oil sector and drone manufacturing capabilities, effectively isolating the regime from the global financial system.
The sanctions come in response to Iran’s continued hostility toward the United States, including alleged assassination attempts against President Trump. The Treasury Secretary even issued a stark warning to Iranians to move their money out of the rial currency before the sanctions hammer falls.
Having met with President Trump’s Treasury Secretary nominee, Scott Bessent, I am confident he will be a strong partner for our state’s interests in the new administration. We’ll be working together to defend Alaska’s fishermen from Russia and China’s seafood price war, and to… pic.twitter.com/YpjOH5IGZ6
— Sen. Dan Sullivan (@SenDanSullivan) January 11, 2025
Russia Sanctions to Pressure Putin into Peace Talks
Bessent didn’t hold back when criticizing the previous administration’s approach to Russia sanctions, either. Remember – Iran isn’t our only adversary.
“A major factor that has enabled the Russian war machine’s continued financing was the Biden administration’s egregiously weak sanctions on Russian energy, stemming from worries about upward pressure on U.S. energy prices,” Bessent stated.
The Treasury Secretary emphasized that the Trump administration is prepared to go “all in” on Russian sanctions if needed to gain leverage in peace negotiations regarding Ukraine. This aggressive stance demonstrates President Trump’s commitment to using America’s economic power to achieve diplomatic goals.
“This administration has kept the enhanced sanctions in place and will not hesitate to go ‘all in’ should it provide leverage in peace negotiations,” Bessent declared. The strategy aims to force Russia to the negotiating table through overwhelming economic pressure.
Economic Warfare Without Domestic Consequences
Despite the aggressive sanctions strategy, Bessent expressed confidence that Trump’s economic policies, including targeted tariffs, would not lead to long-term inflation. “Across a continuum, I’m not worried about inflation,” the Treasury Secretary assured attendees at the Economic Club.
The sanctions on Iran are particularly notable given Trump’s previous warning that military retaliation would follow any assassination attempt. “If they did that they would be obliterated,” Trump had stated, making it clear that economic pressure is just one tool in the administration’s approach to dealing with the Iranian regime.
Bessent described the administration’s approach as “a whole-of-government, holistic program” designed to restore American economic dominance while confronting adversaries. The strategy demonstrates Trump’s willingness to use America’s full economic power to advance national security interests and achieve diplomatic goals.
