US Slaps Iran with New Economic Sanctions Amid Escalating Conflict

The United States has imposed new economic sanctions on Iran, targeting 60 individuals and entities, but stopping short of imposing penalties on Iranian oil trade. The sanctions are part of a broader effort to cut off Iran's economic lifeline, according to US Treasury Secretary Scott Bessent.

In response, Iran vowed to retaliate against the expanded US sanctions, with Iranian Economy Minister Ali Madanizadeh saying 'we are fully prepared for the U.S. sanctions.' He also predicted that major trading partners, including China and Russia, would resist the US measures.

The new sanctions come amid a long-standing conflict between the US and Iran, which has seen thousands of people killed in recent months. The war has pushed energy prices higher and shows little sign of reaching a diplomatic solution.