Scott Bessent defends U.S. economic pressure on Cuba and Iran

U.S. Treasury Secretary Scott Bessent stated that Washington’s economic pressure strategy is currently effective in Cuba and was previously successful in Venezuela. During an interview with CNBC, Bessent defended the Trump administration’s decision to implement what he described as “the harshest sanctions in history” against Iran, aiming to provoke the collapse of the Iranian regime.

The strategy involves a “double blow” consisting of a blockade and a coordinated economic isolation campaign. The U.S. intends to target those who facilitate the Iranian government’s finances, including entities involved in transferring funds, purchasing Iranian oil, or managing maritime fuel transfers between ships at sea. Bessent emphasized that the goal is to deplete the resources available to the regime and its regional allies.

While addressing the potential for military conflict, Bessent noted that the decision to resume large-scale kinetic operations remains at the discretion of President Donald Trump. He suggested that the current focus on “maximum economic pressure” might reduce the immediate need for military action, though he warned that the U.S. will use all available tools against those supporting Tehran. A press conference is scheduled for Monday to provide further details on these measures.