US Treasury chief vows unprecedented economic measures against Iran

US Treasury Secretary Scott Bessent said Thursday that Washington plans to impose unprecedented economic measures on Iran, with further announcements expected next week.

"Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent said in an interview with Newsmax's “Rob Schmitt Tonight” program.

Bessent said the measures would combine increased economic pressure on Tehran with restrictions related to the Strait of Hormuz.

"It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports," he said.

In July, the Treasury Department expanded sanctions targeting Iran's shipping and financial networks following renewed Iranian attacks on international vessels in the Strait of Hormuz.