The U.S. has had a sanctions regime in place against Iran for decades, almost since the Iranian Revolution of 1979. The U.S., France, and Germany later reneged on their nuclear energy contracts with Iran keeping billions of dollars of Iranian money.
Of course, if the United States and/or Israel join in, Iran will be hard pressed. But as belligerent as Bolton and the Israeli government are toward Iran, would they initiate or join a war? But we should take neocons like Bolton at their word.
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