US Slaps Record-Breaking Sanctions on Iran Amid Middle East Tensions

The United States is set to impose its most extensive financial sanctions yet on Iran, targeting various sectors including banking, energy, aviation, and cryptocurrency. This move comes after a failure to reach a ceasefire in the Middle East conflict, with the aim of isolating Iran economically.

Iran has responded by warning that it will seize vessels violating transit rules in the Strait of Hormuz, a critical chokepoint for seaborne oil shipments. The situation raises concerns about global oil supply and potential disruptions to trade.