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.