US vows to 'collapse' Iran with new sanctions as energy prices spike

US vows to 'collapse' Iran with new sanctions as energy prices spike Submitted by MEE staff on Thu, 08/20/2026 - 19:32 Soaring commodity and shipping prices underscore the risks of inflation as US readies 'economic D-Day' US Secretary of the Treasury Scott Bessent speaks to members of the press outside the White House on 20 August 2026, in Washington, DC (Alex Wong/Getty Images/AFP) Off The US will impose "the toughest sanctions in history” on Iran, Secretary of the Treasury Scott Bessent said on Thursday, vowing t