21 Aug 2026 Punjab Khabarnama Bureau : The United States is preparing to impose what Treasury Secretary Scott Bessent described as the “toughest sanctions in history” on Iran, escalating Washington’s economic pressure on Tehran amid the continuing conflict and disruption around the Strait of Hormuz.
Bessent Announces Tougher Economic Measures
Bessent said the new sanctions package would form part of a broader US strategy to put maximum economic pressure on Iran.
He described the approach as a “one-two punch”, combining the existing US naval blockade with the new sanctions. Details of the measures are expected to be announced at a press conference on Monday.
Trump Had Warned of ‘Economic Warfare’
The announcement follows President Donald Trump’s warning that Washington would pursue economic warfare and isolation against Iran.
Trump also warned countries, financial institutions and businesses that provide Tehran with an economic lifeline that they could face severe economic consequences.
US Wants Allies to Join Pressure Campaign
Bessent called on US allies and other countries to cooperate with Washington’s campaign against Iran.
He also urged China to support the sanctions effort, highlighting Beijing’s significant dependence on energy from the Gulf region.
China, however, has said sanctions and pressure will not resolve the crisis and called for a political and diplomatic solution.
Iran Condemns US Sanctions
Iran’s Foreign Ministry condemned the latest US economic and trade measures, describing them as “economic terrorism.”
Tehran said the sanctions would not weaken its determination to protect the country’s independence and sovereignty.
Strait of Hormuz Remains Critical
The sanctions announcement comes as the Strait of Hormuz remains a major flashpoint.
The strategically important waterway previously carried about one-fifth of global traded oil, and disruptions to shipping have contributed to volatility in energy markets.
Oil Prices Rise on Sanctions Threat
Oil prices climbed to a more than three-week high following the latest US threats.
Bessent argued that maximum economic pressure could reduce the need for another large-scale military operation, although the continuing uncertainty around Hormuz remains a major concern for global energy markets.
Ceasefire Efforts Have Failed
The United States and Iran have announced ceasefire agreements twice, in April and June, aimed at restoring shipping through the Strait of Hormuz and moving toward an end to the conflict.
Both agreements subsequently broke down, keeping geopolitical and economic uncertainty high.
China Could Become a Key Test
China’s role could be particularly important because it buys a large share of Iran’s exported oil.
Bessent suggested that Washington could pressure countries doing business with Iran, although he indicated that discussions with China would largely take place privately.
What Happens Next?
The US is expected to reveal more details of the sanctions package on Monday.
The impact will depend on the scope of the measures, how aggressively Washington enforces them and whether major trading partners cooperate. The announcement could also influence oil prices, shipping costs and global financial markets.