US Treasury Wields Economic D-Day against Iran with Broadened Sanctions

The US Treasury is set to broaden its secondary sanctions on Iran, giving countries a final warning to sever ties with Tehran. The move aims to increase economic pressure on Iran as the conflict in the Strait of Hormuz continues.

Treasury Secretary Scott Bessent will announce more details at a press conference today, including how the US plans to take action against companies and entities that facilitate transactions with Iran.

The sanctions are part of an economic pressure campaign against Iran described as an 'economic D-Day' by President Donald Trump. The Treasury has already sanctioned Iranian oil revenues, aviation sector, cryptocurrency, and procurement of weapons components.

Bessent has billed the action as the 'toughest sanctions in history', saying they will reduce the need for new military operations against Iran. He also warned that countries must side with the US or risk being cut off from the dollar-based financial system.