US Targets Iran with New Sanctions Amid Currency Crisis

The US Treasury is set to announce further sanctions on Iran, causing its currency, the rial, to plummet to new lows. The rial dropped to 2.02 million to one US dollar when markets opened on Monday, a significant decline from its value at the start of the year.

According to the Treasury, it is targeting five sectors for potential secondary sanctions: digital assets, technology, gold, aviation, and shipping. US Treasury Secretary Bessent emphasized that every nation should be ready to face U.S. sanctions if backing Iran, stating that trying to buy its appeasement will no longer work.

Pakistan's General Asim Munir is reportedly carrying an offer to Iran to halt the siege and lift sanctions under a memorandum of understanding. The development comes as Pakistan's visit to Iran has been deemed fruitful by officials.