Trump Launches Crushing Economic Operation Against Iran

President Donald Trump announced the launch of what he called the "most crushing economic operation" against Iran on August 20, 2026. This campaign escalated on August 21 when U.S. Treasury Secretary Scott Bessent announced the toughest sanctions in history, stating the goal was to collapse the Iranian regime.

Iran responded by branding the campaign as "economic terrorism." Iranian Parliament Speaker Mohammad Bagher Ghalibaf called for national plans to withstand the measures and visited Iraq to urge the Iraqi government to cooperate with Tehran to mitigate Washington's economic pressure.

China rejected U.S. requests to join the sanctions regime. Ministry of Foreign Affairs spokesperson Lin Jian characterized the unilateral sanctions as illegal, stating they lack a basis in international law or authorization from the UN Security Council. While Scott Bessent urged Beijing to participate in the program, China maintained that economic pressure and military methods only increase tensions and urged all parties to seek political and diplomatic dialogue.