US Treasury Secretary Scott Bessent is due to announce what he has called an unprecedented sanctions package against Iran at a press conference in Washington later on Monday, as the Iranian rial plunges to a record low against the dollar.
The move marks a shift in American strategy after the Pentagon reportedly warned US President Donald Trump that military targets in Iran have been exhausted and munitions stockpiles are running low.
Washington is now betting that economic pressure can succeed where months of military action have not in forcing Tehran to the negotiating table.
Nick Harper reports from Washington.
IN: “It seems as...”
OUT: “...against an adversary.”
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Nick Harper, our reporter in Washington, says the Pentagon has told the White House that the American military has exhausted its list of viable targets in Iran, forcing a change of strategy.
IN: “They've really run...”
OUT: “...financial revenue streams.”
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Nick Harper in Washington says one of the biggest obstacles to the new sanctions strategy is persuading countries like China, Russia, and North Korea to stop helping Iran evade economic restrictions.
IN: “Donald Trump will...”
OUT: “...time against Iran.”
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