US warns allies, China: Back Iran economic isolation or be against us

The United States has asked its allies and China to support a new campaign of economic isolation against Iran, with Treasury Secretary Scott Bessent vowing on Thursday that Washington will "collapse this regime" in Tehran.

Speaking to CNBC, Bessent said the economic push marks a pivot from military pressure as the conflict in the region enters its sixth month. "It is going to work in Iran and we are going to collapse this regime," he said, though he did not specify the measures under consideration. He said more details would be shared at a press conference on Monday.

Bessent described the plan as "the greatest coordinated economic isolation in the history of the world." He said the message to allies is straightforward: "You are either with us or against us." He also called on Beijing to "get with the program," ahead of Chinese President Xi Jinping's scheduled visit to the White House on September 24.

The remarks reflect a noticeable shift in language from senior US officials, who have in recent months described the goal of the conflict as preventing Iran from acquiring a nuclear weapon. Bessent's reference to regime change suggests a broader objective. He argued that sustained economic pressure could make a large-scale military operation unlikely, "for now."

Iran responded dismissively. Foreign Minister Abbas Araghchi wrote on X that the so-called "Economic D-Day" is a diversion from America's own problems, including "unprecedented debt & surging interest costs." The foreign ministry issued a strongly worded statement, accusing the United States of "economic terrorism" and "crimes against humanity," and said the sanctions have violated the fundamental human rights of every Iranian citizen.

For years, Iran has been under US sanctions, yet it has managed to continue exporting oil. China is the largest buyer of Iranian crude, and Tehran operates a network of shadow tankers to avoid restrictions. Whether China will comply with Washington's latest push remains to be seen, and Bessent said some conversations with Beijing are best held in private. Given Iran's stature as a major oil producer, tighter enforcement of sanctions could affect global crude supplies, though the operational details of the US plan have not yet been revealed.

The economic initiative comes as the conflict between the US-led coalition and Iran remains bogged down. Iran has kept the strategically important Strait of Hormuz partially closed, and the US Navy has maintained a counter-blockade. Trump, under domestic pressure over the war's costs and with midterm elections approaching, promised on Wednesday the "most crushing" economic operation ever taken against any country. In a post on Truth Social, he wrote: "This will be Economic Warfare and Isolation on an unprecedented scale."

Alongside the economic threats, the US military is increasing its footprint. The aircraft carrier USS George Washington arrived in the Middle East on Wednesday, replacing the USS Abraham Lincoln. The Lincoln, deployed since November 2025, had reportedly experienced food shortages, broken plumbing, and multiple suicide attempts, raising questions about service conditions and adding to criticism of the war's toll on American troops.

The dual strategy of economic and military pressure will be tested in the coming weeks. The success of the economic campaign depends significantly on whether allies—and particularly China—choose to participate. For now, Washington has made clear it expects all nations to pick a side.