Forex
US Sanctions 60 Entities Worldwide, Warns of 'Economic D-Day' for Iran Ties
The US Treasury Department has announced new sanctions against 60 entities and individuals worldwide, including those in mainland China and Hong Kong. The move is part of a broader effort to choke off Iran's economy after military strikes and diplomatic negotiations failed to resolve the conflict over the Strait of Hormuz.
US Treasury Secretary Scott Bessent warned that any entity facilitating money laundering for Iran will be removed from the US dollar system, calling it 'Economic D-Day'.
The new sanctions aim to expand Washington's secondary sanctions, putting entities in multiple jurisdictions on notice. The Trump administration is seeking immediate action from nations maintaining economic and commercial ties with Iran.