Iran bets economic pain will pressure Trump in game of ‘chicken’

The tactical adjustment comes as the Trump administration shifts emphasis towards squeezing Iran's economy while avoiding a return to large-scale combat operations.

The reaffirmation comes as Treasury Secretary Scott Bessent rolls out the administration's sweeping campaign to isolate Iran from the global economy, a strategy President Donald Trump has described as an economic offensive against Tehran and Bessent has called a "one-two punch" combining military pressure with sanctions.

Rubio told allied foreign ministers that, "for the time being," the administration's emphasis is shifting toward alternative forms of pressure, including the new sanctions campaign announced this week.

Over the years, the United States has slapped Iran with countless sanctions targeting its banking system, shipping companies, oil industry and military.