US to broaden secondary sanctions to isolate Iran
The United States plans to expand secondary sanctions targeting Iran, according to a source familiar with the plans. Treasury Secretary Scott Bessent will announce the measures on Monday, outlining an extensive financial offensive against the country. These actions aim to pressure Iran to cease attacks on ships in the Gulf and Red Sea, which began following U.S. and Israeli strikes in February.
Iran claims these actions will have the opposite effect. The U.S. has urged China, Iran's largest oil buyer, to cooperate, but Chinese officials have warned against any sanctions that could impact Chinese interests. Pakistan's army chief met with Iranian officials to discuss regional peace and stability. The U.S. and Iran have not engaged in direct military strikes, but attacks on vessels in the Red Sea have continued.
Iran has warned of a military response to any further sanctions, while oil prices have eased following the expected U.S. announcement.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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