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Global Business News

The Economic Times

Global Business / The Economic Times

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From dropping bombs to pressuring banks: US pivots to economic warfare on Iran

The Trump administration is shifting its Iran strategy towards economic pressure, threatening secondary sanctions on countries doing business with Tehran. Treasury Secretary Scott Bessent stated these moves are the financial equivalent of a bombing campaign, aiming to choke Iran into submission. This escalation targets entities like Chinese banks and warns allies like the UAE, as the U.S.

16 Apr 2026 6:51 am