US presses allies, China to join economic pressure on Iran
The United States has pressed its allies and China to cut their remaining economic ties with Iran as the Trump administration prepares what it says will be its toughest campaign yet to isolate Tehran.
President Donald Trump announced on Aug. 19 “the most crushing economic operation ever taken against any country,” warning that countries whose banks, companies, airports or government bodies provide Iran with an economic lifeline would face severe consequences.
He identified oil smuggling, swap lines, cash transfers, exchange houses, ship registries and front companies as channels Washington wants shut down.
The administration has not yet disclosed the measures. Treasury Secretary Scott Bessent said he would provide details at a news conference on Aug. 24.
