US ramps up economic pressure and sanctions on Iran

The United States has intensified economic sanctions against Iran, targeting its funding sources and aiming to halt attacks on shipping in the region. The Treasury Department imposed sanctions on 60 individuals, entities, and vessels, focusing on financial networks that facilitate Iran's oil trade. The measures also affected companies in China, the UAE, Singapore, and other nations.

US Treasury Secretary Scott Besant announced the expansion of secondary sanctions, describing it as an "economic victory day." He emphasized the goal of severing economic ties between Iran and the rest of the world. Since 2025, the US has imposed sanctions on over 1,000 individuals, vessels, and aircraft related to Iran. The new measures come amid rising global energy concerns and ongoing attacks on ships in the Gulf and Red Sea.

Iran has warned that sanctions could backfire, having endured decades of US and international sanctions. The conflict's impact has now spread to shipping and energy markets, disrupting navigation and oil flows. The Iranian government relies on five key sectors for its economy, all now exposed to sanctions. China, a major buyer of Iranian oil, is particularly sensitive in Washington's new strategy.

The US has also threatened tariffs on goods from countries trading with Iran, despite the Supreme Court overturning the legal basis for such tariffs. Pakistan has initiated talks with Tehran to promote peace and stability in the region, with a Pakistani army chief arriving in Iran for discussions.