Bessent says U.S. likely won't restart large-scale Iran combat as it steps up economic pressure

The Trump administration's plan to crush Iran's economy will likely negate the need for major U.S. military operations against the Islamic republic, Treasury Secretary Scott Bessent told CNBC on Thursday."If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart," Bessent said in an exclusive interview with "Squawk on the Street."The Cabinet secretary's comments came hours after President Donald Trump declared on Truth Social that the U.S. plans to choke Iran's economy by levying major economic penalties against any country that provides "any type of lifeline" to Tehran."This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat," Trump wrote in the Wednesday evening post.The announcement came as the war against Iran nears the six-month mark without any hint that the U.S. is close to clinching either a diplomatic or military victory.Oil prices rose following CNBC's interview with Bessent, who vowed that the U.S. will create "the greatest coordinated economic isolation in the history of the world" against Iran.He said he will hold a p...