Iran prepares to keep economy alive as US threatens further sanctions

Amid trade embargoes, asset freezes and attacks on ships as part of a naval blockade, Washington has announced a plan to enact a new wave of restrictions on Iran, targeting its economy.Treasury Secretary Scott Bessent said last Thursday that the United States was planning to inflict more economic damage on Tehran as early as this week. The US would apply measures that have “never been seen in the history of economic isolation on a country”, Bessent said.Recommended Stories list of 3 itemslist 1 of 3Iran signals readiness for ‘US ground operations’ as strategy shifts gearlist 2 of 3Trump hails Mecca pact: Can it replace the region’s US security umbrella?list 3 of 3Can China’s new Arctic sea route to Europe replace Middle East chokepoints?end of listA day later on Friday, President Donald Trump echoed Bessent and said that Iran would be hit hard economically.As the memorandum of understanding (MoU) expired on Monday, Trump called on Tehran to hold up the “white flag of surrender” but insisted that he was in no rush to end the war.Since February 2025, following the start of Trump’s second term in office, Washington has sanctioned “more than 1,000 Iran-related persons, vessels, and air...