AXIOS (Barak Ravid) - Bessent unveils sanctions designed to cripple Iran
Treasury Secretary Scott Bessent announced on Monday that the U.S. will impose punishing sanctions on countries and entities that do business with Iran — an attempt to bring the country to heel absent renewed military strikes. Why it matters: The move is aimed at ratcheting up pressure on the Iranian regime amid the current "no war, no deal" limbo. - U.S. officials say the expanded "secondary" sanctions are expected to be the main course of action against Iran until at least after the midterm elections, when a new military campaign could again be on the table. Yes, but: While Bessent has been conducting a PR buildup for the last 10 days over an "economic D-Day " against Iran, the reality is more complicated. - The U.S. already has…