Scott Bessent urges US partners to back plans to ‘squash’ Iran economy– www.bbc.co.uk

The Iranian economy has long been struggling under the weight of decades of international sanctions, which left it in tatters.

Earlier this year, Iran experienced weeks of protests due to the spiralling cost of living and inflation – with everyday Iranians blaming the regime for their difficulties.

Official figures show that in the 12 months to February 2026, the price of basic necessities increased by an average 60%, while food prices doubled in the same period.

At the time, Trump told demonstrators “help is on the way” as he urged them to “keep protesting”.

A little over a month later, the US joined Israel in its attack on Iran – and later implemented a blockade on Iranian ports, threatening further sanctions.

In April, the US launched a wave of sanctions on foreign banks and firms doing business with Tehran after it became apparent military operations had not led to the overthrow of Iran’s regime nor its surrender, as Trump had initially hoped.