Iran war news LIVE Updates: US to impose weekly secondary sanctions on Tehran? Bessent says, 'We're starting with banks'
Iran war news LIVE Updates: The US Treasury Department is likely to unveil weekly new secondary sanctions aimed at increasing economic pressure on Iran, with an initial focus on banks, US Treasury Secretary Scott Bessent said on Sunday.
On Monday, Iran retaliated against the United States after forces struck Iranian rocket launchers in the Strait of Hormuz. The strikes resulted in several Iranian casualties and the wounding of others, according to state broadcaster reports. The Guard vowed to continue the retaliation, with forces preparing to launch rockets and sea mines into the strait.
US Central Command confirmed intercepting eight Iranian missiles that entered Jordan's airspace. This comes just days after the Trump administration shifted focus to economic pressure rather than military action to end the war with Iran. U.S. Treasury Secretary Scott Bessent expects weekly secondary sanctions targeting Iran, initially focusing on banks. He stated that the banks will be asked to stop aiding the Iranian regime.
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