Trump Pivots to 'Operation Economic Fury' Sanctions Campaign as Iran Calls Pressure Ineffective

The Trump administration doubled down on 'Operation Economic Fury,' its financial-pressure campaign against Iran running since April 16, with Treasury Secretary Scott Bessent saying Iran's shadow banking system is 'buckling' and calling sanctions the 'financial equivalent' of a bombing campaign. Trump said Iran is 'broke, totally broke.' Iranian Foreign Ministry spokesperson Esmaeil Baqaei rejected the pressure campaign, saying repeated sanctions rounds — the eighth targeting Iran's alleged shadow-banking network in 2026 — only make a diplomatic solution 'less likely' and reflect Washington's pattern of 'increasing the dose' when sanctions fail to produce results.