From bombs to economic warfare: US pivots on Iran

WASHINGTON — If the U.S. and Iran aren’t able to soon come to a deal to end the war or extend the ceasefire that expires next week, the Trump administration is setting the stage to shift its war campaign toward a more economic-focused effort aimed at choking Tehran into submission rather than relying on bombs alone. Treasury Secretary Scott Bessent told reporters at a White House briefing Wednesday that the U.S. plans to ramp up economic pain on Iran, and said the new moves will be the “financial equivalent” of a bombing campaign. The threat of secondary economic sanctions on countries doing business with people, firms, and ships under Iranian control — including allies like the United Arab Emirates and competitors like China — represents an escalation of sanctions that the U.S. is already employing. Bessent said the administration has “told companies, we have told countries that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions, which is a very stern measure. And the Iranians should know that thi

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