US Treasury Secretary announces launch of 'economic isolation' campaign against Iran

US Treasury Secretary Scott Besant has announced the initiation of an economic embargo aimed at Iran, and has issued a warning about potential measures against the country's allies. The Secretary detailed that any individual or entity supporting Iran or engaging in financial transactions with it would be subject to legal repercussions, emphasizing Iran's ongoing support for militant groups and its hostile stance towards the United States and its allies.

The United States plans to cease all revenue streams for the Iranian Revolutionary Guard, and President Donald Trump has called upon various nations to cease their commercial dealings with Iran, with additional steps anticipated from other countries. Trump is reportedly making direct telephone calls to global leaders to sever economic connections with Iran.

The administration has decided to suspend general licenses permitting certain financial transactions with Iran, and the sanctions now extend to the country's digital assets, technological infrastructure, gold reserves, aviation sector, and shipping industry.