US Prepares New Sanctions on Iran Amid Strait of Hormuz Tensions

The United States is preparing to impose new sanctions on Iran as tensions over the Strait of Hormuz continue to rise. The move, scheduled for Monday at 2 p.m. EDT, aims to cut Tehran off from its remaining sources of revenue.

Treasury Secretary Scott Bessent will detail the measures, describing the campaign as an economic 'D-Day'. Iran has responded by warning countries that participate in or support the U.S. economic campaign could be treated as taking part in an act of war.

Mohsen Rezaei, secretary of Iran's Supreme National Security Council, threatened to stop oil exports through the Strait of Hormuz and elsewhere in the Persian Gulf if the pressure continues.