US vows 'economic asphyxiation' of Iran with new sanctions

The United States has vowed to economically isolate Iran through new sanctions, as Washington grapples with a six-month stalemate in the ongoing conflict. Treasury Secretary Scott Bessent announced expanded secondary sanctions, targeting Iran's digital assets, technology, gold, aviation, and shipping sectors. The sanctions also include 60 individuals, companies, and vessels accused of aiding Iran's oil revenue generation, weapons procurement, and cyber operations.

Iran dismissed the threat, stating it had a two-year plan to manage the situation. Bessent reiterated the US economic D-Day, urging countries to join the campaign or face consequences. The US has already imposed economic D-Day on Iran, but China, a major importer of Iranian oil, remains outside the targeted entities. Despite the sanctions, Iran continues to export oil, mostly to China, evading international restrictions.

The naval blockade has significantly reduced Iran's oil exports via the Strait of Hormuz. The US Defense Secretary emphasized that military strikes remain a possibility, though the focus is now on economic pressure. Ordinary Iranians may face more economic hardship amid years of inflation and protests.