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Bessent says U.S. likely won't restart large-scale Iran combat as it steps up economic pressure

CNBC Thursday 20 August 2026, 15:32 UTC 1 min read
Key Points

The Trump administration's plan to crush Iran's economy will likely negate the need for further U.S. military operations against the Islamic republic, Treasury Secretary Scott Bessent told CNBC on Thursday. "If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart," Bessent said in an exclusive interview with "Squawk on the Street." The Cabinet secretary's comments came hours after President Donald Trump declared that the U.S....

The Trump administration's plan to crush Iran's economy will likely negate the need for further U.S. military operations against the Islamic republic, Treasury Secretary Scott Bessent told CNBC on Thursday. "If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart," Bessent said in an exclusive interview with "Squawk on the Street." The Cabinet secretary's comments came hours after President Donald Trump declared that the U.S. plans to choke Iran's economy by levying major economic penalties against any country that provides "any type of lifeline" to Tehran. The announcement came as the war against Iran nears the six-month mark without any hint that the U.S. is close to clinching either a diplomatic or military victory. This is breaking news. Please refresh for updates.
Bessent (PERSON) U.S. (LOCATION) Iran (LOCATION) Trump (ORG) Islamic (ORG) Treasury (ORG) Scott Bessent (PERSON) CNBC (ORG) Cabinet (ORG) Donald Trump (PERSON) Tehran (LOCATION)
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