What options does Trump have to increase economic pressure on Iran?

The United States is preparing to escalate economic pressure on Iran, with Treasury Secretary Scott Bessent signaling that Washington will soon impose measures "never seen before." This announcement follows President Donald Trump's vow to "hit Iran hard economically." The US, alongside the UN and EU, has a long history of applying sanctions, trade embargoes, and freezing assets against Iran, primarily citing its nuclear program, human rights abuses, and support for militant groups. Since the start of the Iran war in February, the US has implemented additional maritime, energy, and financial sanctions, including a naval blockade. Data from the US Treasury Department indicates that over 1,000 individuals, vessels, and aircraft have been sanctioned since Trump began his second term. Recent actions have targeted Iran's oil exports, shipping insurers, and entities involved in weapons procurement, freezing an estimated $500 billion in Iran-linked cryptocurrency. Experts suggest the Trump administration has several options for further pressure. One significant avenue involves imposing sanctions on Chinese "teapot" refineries, which process a substantial portion of China's crude oil and import over 80% of Iran's shipped oil. While these independent refineries have limited exposure to the US financial system, they could be subjected to secondary sanctions for aiding Iran. Additionally, the US Treasury has warned two major Chinese banks about potential secondary sanctions if Iranian funds are detected moving through their systems. Although these banks have not yet been publicly designated, imposing sanctions on them could significantly impact global financial flows and Iran's ability to access international markets.

“

never been seen