Trump unleashes swathe of sanctions on Iran 'enablers'

US Treasury Secretary Scott Bessent announced a series of sanctions against Iran and its financial enablers on Monday, in an effort to "asphyxiate" the regime amid tensions in the Strait of Hormuz. Iran now faces a stark choice: global isolation or a return to normalcy with the opportunity to rejoin the global economy. The Treasury has mapped every network Iran has used to evade sanctions, and President Donald Trump has spoken with world leaders urging them to cease interactions with the regime.

Secondary sanctions will be imposed on 60 other entities and individuals in the coming days and weeks. If target countries fail to comply, the Treasury will act unilaterally using its authorities. This move comes after the administration failed to assert military control over the Strait of Hormuz, and follows its pledge to impose the "toughest sanctions in history" on Tehran.

Iran's parliamentary speaker warned that Tehran and Baghdad would not let foreign governments decide their futures, emphasizing the need for security cooperation and economic prosperity in the region.