Washington: The US government, under President Donald Trump, is set to introduce a new phase of economic pressure on Iran, as Treasury Secretary Scott Bessent indicates that Washington will soon reveal measures that have never before been used to isolate a country economically. According to Radio Free Europe Radio Liberty, the specifics of these measures remain unclear, but experts suggest they could extend beyond sanctions on Iranian companies to targeting international financial networks facilitating Iran's oil trade. This could involve Chinese banks and systems used for yuan-denominated payments, shipping, insurance, refining, and financial intermediaries supporting Iran's oil sales despite longstanding US pressure. Bessent stated in an interview with Newsmax that the measures are part of a "one-two punch" strategy, complementing the ongoing blockade of Iran's ports. President Trump reinforced Bessent's comments by sharing a related Newsmax report on Truth Social, emphasizing the US's commitment to inten sifying economic pressure on Iran. The White House has been reticent about the details, but spokeswoman Karoline Leavitt noted that the administration has additional tools to further weaken Iran's already fragile economy, which is grappling with inflation, reduced energy revenues, and limited foreign currency access. A Pentagon report cited by The Hill estimated that the US blockade from April to June cost Iran approximately $4.8 billion in oil revenue. Elaine Dezenski of the Center on Economic and Financial Power suggests that the US could target financial institutions supporting sanctioned Iranian oil transactions, particularly those with ties to Western banking systems. She highlighted the potential of using sections of the Patriot Act to identify specific Iranian oil transactions as money-laundering concerns, especially those settled in yuan. The growing use of alternative payment systems like China's Cross-Border Interbank Payment System and Russia's System for Transfer of Financial Messages complicat es the situation, as these systems facilitate transactions outside the Western financial network, potentially diminishing the dollar's role in global energy trade. Brett Erickson from Obsidian Risk Advisors noted that sanctioning Chinese banks would mark a significant escalation, as this strategy has been avoided due to potential global financial repercussions. Erickson suggested that such measures could deliver unprecedented economic isolation if executed. China remains a pivotal player as the major buyer of Iranian oil, but Dezenski cautions against viewing the relationship between China, Iran, Russia, and North Korea as indestructible. She argues that China's economic ties with the West may limit its willingness to shield Tehran from US sanctions. Dezenski also pointed out that US sanctions have previously impacted Chinese refineries involved in Iranian oil purchases, indicating potential vulnerabilities within the broader network. However, dismantling the entire network of traders, vessels, and financi al intermediaries involved in Iranian oil trade presents significant challenges. Barry Pavel, a former National Security Council director, stressed that while escalating sanctions could inflict severe economic damage, they may not necessarily lead to the diplomatic outcomes the US desires. Iran's leadership has historically shown resilience in the face of economic pressure, focusing on survival rather than victory. Erickson emphasized that the success of US strategy hinges on whether economic pressure can erode the Iranian government's control before global markets reach a breaking point. If external consequences become intolerable, the strategy may fail regardless of its scope.