Treasury Secretary Scott Bessent said he wasn’t sure how long the Iran War would continue while touting new sanctions against the Islamic Republic in a Monday CNBC interview.

“I can’t tell you whether it’s one week, one month, or six months, but I will tell you that we’re pressuring them like never before,” said Bessent, noting new measures against Iranian air, maritime, crypto, and gold interests. President Donald Trump is reportedly considering relying on economic measures to resolve the war, alongside further military escalation and a deal.

Subscribe Today

Get daily emails in your inbox

Email Address:

It remains unclear what military escalation the U.S. plans in the short term, if any. Iran’s military headquarters alleged in a Sunday statement that the U.S. was readying new attacks, which it promised to answer forcefully. A Sunday evening report in the New York Times said that Trump had decided on a strike against Yemen’s Iran-aligned Houthis, who are threatening Red Sea shipping and damaging Saudi military and oil infrastructure, after the Saudi Crown Prince Mohammad bin Salman made a personal call to the president Thursday. Per the report, Trump reversed course midday Sunday as warplanes were being prepared for the strikes. 

Iran’s Foreign Minister Abbas Araghchi set out for New York Sunday ahead of this week’s UN General Assembly, per Iran’s Tasnim. President Masoud Pezeshkian is also expected to attend.

Brent crude opened Monday at $104 per barrel, down from recent highs. AAA reported a national average price of $4.48 per gallon of regular gas and another all-time record of $6.51 per gallon of diesel.