Bessent Says US Unlikely to Resume Large-Scale Military Action Against Iran, Increasing Economic Pressure

US Treasury Secretary Bessent's latest remarks suggest that Washington's strategy toward Iran is further tilting toward "economic warfare." In an interview, he explicitly stated that if the US applies maximum economic pressure, it means large-scale military conflict is unlikely. This rhetoric provides new de-escalation logic for the persistently tense Middle East situation—namely, destroying Iran's economic lifeline as a substitute for direct military strikes.

**"Harshest in History" Economic Isolation Plan Awaits Unveiling**

Bessent described the campaign as "the largest, most coordinated economic isolation in history." According to him, the specific action plan will be detailed at a press conference on August 24. Earlier, US President Trump announced "the most devastating economic action ever taken against a country" targeting Iran. Bessent stressed that the move aims to cut off Iran's funding flows and warned that all US allies must choose between the US and Iran.

**Feasibility of Maximum Pressure and Potential Backlash Risks**

Despite Washington's tough rhetoric, market analysts remain cautious about the effectiveness of remaining pressure options. Critics argue that after years of sanctions and naval blockades, the US has limited new tools available. Bloomberg Economics analysts noted that unless the Trump administration prioritizes addressing the Iran threat above all other issues, including relations with China, any additional actions are unlikely to materially change Iran's calculations. Currently, the main challenge facing the US is how to implement new sanctions without harming its own economy—particularly given that China purchases over 90% of Iran's oil exports, and strikes targeting related trade financing could trigger financial backlash risks.