Iran war news LIVE Updates: Bessent to announce new US sanctions against Iran on Monday

Treasury Secretary Scott Bessent announced that the United States will impose new sanctions on Iran on Monday, describing them as "the toughest" in history. The sanctions aim to economically isolate Iran and its trading partners, following President Donald Trump's threat of an "economic D-Day" to end the ongoing Middle East stalemate. Iran dismissed the threat, stating that sanctions are an "implicit admission of the enemy's humiliating defeat."

The US Treasury Department emphasized the "endgame" of the confrontation with Iran, highlighting the comprehensive financial offensive they are planning. Bessent stated that the sanctions will sever every remaining economic lifeline to Tehran, describing it as "the single greatest financial offensive ever marshaled against an adversary."

Iran's Ports and Maritime Organization warned vessels violating its protocols for the Strait of Hormuz that they could face restrictions, including fines, detention, or confiscation. The organization also warned that vessels cooperating with those already listed as non-compliant would be added to the list. Additionally, Iran threatened to stop all oil exports from the Gulf if the economic war continues.

The US military has redirected 70 commercial vessels, disabled three, and boarded two since enforcing the naval blockade against Iran. US forces are monitoring flight operations aboard USS John Finn (DDG 113) as it sails through the Arabian Sea, enforcing the US blockade against Iran.

Iranian officials have suggested retaliation if the economic war continues, with Supreme National Security Council Secretary Mohsen Rezaei warning that not a single drop of oil will be exported if the conflict persists. Meanwhile, Parliament Speaker Mohammad Bagher Ghalibaf criticized the planned sanctions, suggesting that economic pressure on Iran and disruptions in energy markets may ultimately affect the United States as well.