By Song Sang-ho

WASHINGTON, Aug. 20 (Yonhap) -- U.S. Treasury Secretary Scott Bessent on Thursday called on U.S. allies to join Washington's stepped-up economic pressure campaign against Iran, outlining a plan to impose the "toughest sanctions in history" on the Islamic Republic.

Bessent made the remarks during a CNBC interview, noting that there will likely not be large-scale "kinetic" military action on Iran as U.S. President Donald Trump's administration is pushing to apply the "maximum economic pressure" on Tehran to "squash" its economy.

The secretary plans to hold a press conference on Monday to explain what the administration is doing in its anti-Tehran economic campaign, he said.

"This is going to be the greatest coordinated economic isolation in the history of the world, and we are going to (allies) and saying, 'You are either with us or against us,'" he said.

"You want this murderous regime to end. And if you insist on doing business with them, either transferring money, buying their oil, doing seaborne ship transport, then the U.S. Treasury and the U.S. government ... they will put its full might and force toward enforcing against you."

He added, "It is time for our allies and the rest of the world to make a decision."

The secretary also expressed hopes that China would get on board.

"We are confident that everyone wants the strait reopened and for energy prices to come back down," he said.

"And keep in mind that the Chinese get 50 percent ... of their energy from the Gulf. So it would do them a big service to get with the program.

sshluck@yna.co.kr

(END)

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