US Unveils New Sanctions Package Against Iran

The United States is preparing to impose new sanctions on Iran, aiming to cut off Tehran's remaining sources of revenue. Treasury Secretary Scott Bessent will detail the measures at a press conference on Monday at 2 p.m. EDT, describing it as an economic D-Day.

The sanctions are expected to target Iranian oil sales, banking channels, transportation networks, and foreign trading partners.

Mohsen Rezaei, secretary of Iran's Supreme National Security Council, warned that countries participating in or supporting the U.S. campaign could be treated as taking part in an act of war.

The Strait of Hormuz is a critical concern, as roughly one-fifth of global oil supplies move through it. Oil prices fell on Monday as markets awaited Washington's announcement.