U.S. Treasury Secretary Scott Bessent is seeking to win international support for increasing economic pressure on the Islamic Republic.

Bessent said Washington intends to sanction another bank this week as part of the campaign of “economic expulsion operations,” and added that the government is prepared to “apply financial violence if necessary.” He said the pressure could put Iran’s economy into a crisis within weeks or months, but that the goal is to get the Iranian government “to come to its senses.”

Bessent said he has the “full support” of the European Union for the U.S.’s sanctions efforts. The European Union also said it welcomes the increase in economic pressure on Iran.

China, the biggest buyer of Iranian oil, is one of the main challenges of this campaign. Bessent said that regarding sanctions on Beijing for buying Iranian oil, “all options are on the table.”

However, experts have warned that broad sanctions on major Chinese banks could trigger retaliation and disrupt global markets, and that limiting the flow of oil also carries the risk of higher inflation.