US to apply economic measures 'never seen' on Iran, says Treasury Secretary

US Treasury Secretary Scott Bessent said on Thursday that the United States is going to apply economic measures that have "never been seen" on Iran.

"Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent said in an interview on Newsmax's Rob Schmitt Tonight program.

"It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports," Bessent said.