US vows to 'collapse' Iran with new sanctions as energy prices spike

The US will impose "the toughest sanctions in history” on Iran, Secretary of the Treasury Scott Bessent said on Thursday, vowing to ramp up economic pressure on the Islamic Republic even as the economic toll of the war builds. "It is a one-two punch. We have the blockade [on Iran], and we are going to have the toughest sanctions in history," Bessent told CNBC. "It is going to work in Iran, and we are going to collapse this regime,” he said, adding that the sanctions will be explained on Monday. Bessent’s statements come a day after Trump said that he was launching an "economic D-Day" on Iran, and warned that any country helping Tehran would face "TREMENDOUS Economic Consequences". Read more: US vows to 'collapse' Iran with new sanctions as energy prices spike