What Happened
Maximum Pressure Campaign Faces Global Economic Risks
The Trump administration has announced plans to impose secondary sanctions on countries, individuals, or entities that do business with Iran, in an effort to achieve what it calls the ’economic asphyxiation’ of the country. Treasury Secretary Scott Bessent warned of economic consequences for noncompliance, but the administration’s options in Iran appear to be narrowing. The US has repeatedly offered vivid explanations of what its powerful tools can do, but has declined to use them, exposing the limits of American power. The administration’s threats have yielded some results, but the war with Iran has lasted far longer than expected, and its economic consequences are now a central issue in the midterm elections. This was first reported by The Atlantic.