Israel National News: The Trump administration is ramping up sanctions on Iran in an attempt to dismantle its oil industry and bring its struggling economy to the brink, Treasury Secretary Scott Bessent said Thursday.

Speaking at the Economic Club of New York and quoted by CNBC, Bessent emphasized that Washington is enforcing sanctions with “immediate maximum impact.” The ultimate goal, he stated, is to slash Iran’s daily oil exports—currently at 1.5 million barrels—down to a mere fraction.

“We are going to shut down Iran’s oil sector and drone manufacturing capabilities,” Bessent declared, adding that the administration is working to sever Tehran’s access to the global financial network.

“Making Iran broke again will mark the beginning of our updated sanctions policy,” said Bessent, a former global investment manager. “If I were an Iranian, I would get all my money out of the rial now,” he warned, referring to the Iranian currency.

Last month, Trump reinstated his "maximum pressure" campaign against Iran, imposing new sanctions on the Islamic Republic. The policy mirrors the aggressive sanctions strategy his administration enforced during his first term in office.

Iran has expanded its nuclear activities since 2019, following the decision by Trump, in his first term in office, to withdraw from the 2015 nuclear deal signed between Iran and world powers.

Despite the escalating sanctions, Trump has reiterated his willingness to engage in nuclear negotiations with Iran. “I would much prefer a Verified Nuclear Peace Agreement, which will let Iran peacefully grow and prosper,” the president stated in a social media post on February 5.

He has also said that he would rather reach a deal with Iran on its nuclear program than have Israel attack Iran’s nuclear facilities.

Despite the President’s comments, Iranian Supreme Leader Ayatollah Ali Khamenei has cautioned the Iranian government against engaging in talks with Washington, describing such a move as “reckless.”

Iran’s Foreign Minister Abbas Araqchi made clear that Iran is open to negotiations with the United States but not under Trump’s “maximum pressure” strategy.

“The lifting of sanctions requires negotiations, but not within the framework of a ‘maximum pressure’ policy, because it would not be a negotiation but a form of surrender,” said Araqchi.

Source: INN   PHOTO: Treasury Secretary Scott Bessent   Use according to Section 27 A