US unveils ‘economic D-Day’ of sanctions to isolate Iran
WASHINGTON, Aug 24 (Reuters) - The U.S. on Monday announced an expansion of secondary sanctions it hopes will "sever every economic lifeline" sustaining Iran, as President Donald Trump's administration struggles to resolve an unpopular war that has pushed energy prices higher.
On Monday, the United States unveiled an "economic D-Day" of sanctions aimed at isolating Iran, according to Treasury Secretary Steven Bessent. The expansion of secondary sanctions seeks to sever Iran's economic lifelines and give a final warning to countries to cut ties with Tehran or face penalties. The move comes as the U.S. attempts to pressure Iran to cease attacks on ships in the Gulf and Red Sea, following strikes by Iran and its allies in February.
The sanctions target five sectors - digital assets, technology, gold, aviation, and shipping - and impose penalties on nearly 60 entities, individuals, and vessels. Iran has dismissed the threats and warned shipping to avoid the Strait of Hormuz without its permission.
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- New US sanctions against Iran: Bessent warns countries — Cut Iran ties or face the ‘full reach of American power’ livemint.com
- Iran has a 'two year plan' to counter sanctions, economic minister says middleeasteye.net
- US unveils 'economic D-Day' of sanctions to isolate Iran channelnewsasia.com
- In 'warning shot,' US threatens sanctions on Iran’s trading partners al-monitor.com
- US unveils 'economic D-Day' of sanctions to isolate Iran hindustantimes.com
- Oil prices remain lower as Bessent outlines Iran sanctions plan, signals China not exempt seekingalpha.com
