Iran has weathered near-continuous economic sanctions for nearly 50 years, since the Islamic Revolution of 1979, but its people are suffering high inflation, a weakening currency and energy shortages along with damaged infrastructure.
Some Iranians interviewed by Reuters have said more economic punishment could increase hardship, weaken the clerical establishment and prompt unrest, although there has been no sign of that since a deadly crackdown on protests in January.
Before Bessent spoke, Iran's foreign ministry said U.S. sanctions would not "create even the slightest hesitation in Iranians’ determination to safeguard Iran’s independence, dignity and national sovereignty."
Iranian President Masoud Pezeshkian, a relative moderate who has expressed concern about the economy, said Iran's response to attack would be "crushing" but that the war should end now that the U.S. is isolated internationally, reiterating an earlier stance.
Trump is under pressure to end the war, with high fuel prices dragging down his approval ratings and potentially threatening his Republican Party's control of Congress in midterm elections in November.
Bessent said China got half its energy from the Gulf so it would make sense for them to "get with the program."
China buys more than 80% of Iran's shipped oil, according to 2025 data from analytics firm Kpler, but further U.S. economic warfare with Beijing, which has eased earlier restrictions on exports of its vital rare-earth minerals, risks retaliation.
Offers of Iranian crude to Chinese buyers have already declined since the U.S. reimposed its blockade on Iranian ports in mid-July, trade sources told Reuters.
China's embassy in Washington said "sanctions and pressure do not help resolve the problem", calling for diplomatic means.
Tightening sanctions entails other risks, especially to U.S. allies in the Gulf, some of whose energy facilities and the desalination plants they depend on for drinking water have come under Iranian attack.
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