Speaking on
CNBC, Bessent called it a 'one-two punch' of the toughest sanctions ever and
pressure on allies to pick sides or face enforcement.
Iran's Mohsen Rezaei fired back, warning Gulf neighbors that joining the U.S. would block all oil from the Strait of Hormuz and target their routes.
The standoff builds on a blockade that already cut Iranian exports from 2 million to under 300,000 barrels daily, spiking oil prices and risking one-fifth of global seaborne oil flows.