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US economic conflict escalates

US economic conflict escalates

The United States is moving toward imposing the largest package of economic sanctions in history on Iran, described as the harshest ever, with the aim of increasing pressure on Tehran. US President Donald Trump announced that Iran is "completely collapsing," following the US Treasury Department's decision to expand the scope of secondary sanctions targeting Iranian entities and agencies, thereby increasing the risks for foreign companies dealing with Tehran. The sanctions seek to disrupt trade with Iran and threaten countries engaging with it with American sanctions, potentially jeopardizing the continued relationships of some companies and trade parties with Iran and restricting their economic capabilities, as part of a US campaign to tighten the squeeze on the Iranian regime. Conversely, Iran affirms that it has plans to face the economic war, considering that the sanctions reflect a setback for Trump’s policies, and that they will not affect the country's ability to withstand the pressure.

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