“US Can’t Bomb Its Way To Victory”: Scotiabank Maps Bessent’s Coming Economic Hammer On Iran

Brent crude futures ended last week near $88.50 a barrel as traders awaited details of Treasury Secretary Scott Bessent’s planned escalation campaign of the economic war against Iran. Bessent said Friday that Washington would announce unprecedented economic-isolation measures next week, warning that the coming pressure campaign would be unlike anything “seen in the history of economic isolation on a country.” For clarity on Bessent’s upcoming economic-isolation operation against Iran, Derek Holt, head of Capital Markets Economics at Scotiabank in Toronto, provided clients with an assessment in which Bessent’s warning could signal a move well beyond sanctioning shadow tankers and refiners,…