Iran vowed a “devastating” military response Friday as the United States enters a new phase of economic warfare against Tehran, with the Trump administration preparing the “toughest sanctions in history” as part of an escalating campaign Treasury Secretary Scott Bessent says will “collapse” the Iranian regime.

President Donald Trump made clear Friday that Washington’s shift toward economic pressure does not take further military action off the table, while again pointing to Iran’s battered armed forces, economic deterioration, and the U.S. blockade around the Strait of Hormuz as evidence of the mounting pressure on Tehran.

Trump also said the…

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