US to unveil new Iran sanctions, says war entering 'endgame'

The United States unveiled plans on Monday for a new round of sanctions targeting Iran, as the ongoing war in the Middle East continues with little resolution. Treasury Secretary Scott Bessent, during a press conference, outlined the "economic asphyxiation" strategy, which involves imposing secondary sanctions on Iran's trading partners.

The aim is to sever every economic connection sustaining the Iranian regime until it stands alone. Bessent called the program "Operation Economic Outcast," likening it to the "Economic D-Day" mentioned by former President Donald Trump, although the analogy was met with ridicule. Iran now has two options: global isolation and a subsistence economy, or a return to normalcy with the chance to rejoin the global economy.

The Treasury has mapped every network and facilitator Iran has used to evade sanctions, and it will start tightening the noose to restrict potential revenue sources funding the Iranian regime. The president has been making phone calls to world leaders asking them to cease interactions with the regime and has already seen results, though Bessent did not elaborate.

Iran's Economy Minister Ali Madanizadeh predicted another defeat for Washington, stating Tehran had a two-year plan to counter the sanctions. Iran's top security body chief warned that any support for the US measures would be considered an act of war. Iran has already been under international sanctions for decades, with China, the UAE, Turkey, Iraq, Russia, and Germany being its primary trading partners.

The US has not named specific countries to cooperate with or demand to cease interactions with Iran.