US Unleashes New Sanctions on Iran Amid Economic Pressure

US Treasury Secretary Scott Bessent announced new sanctions on Iran, warning countries that do business with Tehran to sever ties or face US retaliation.

The move is part of an 'economic D-Day' plan unveiled by President Donald Trump last week, aimed at putting pressure on the Iranian economy.

Iran's currency, the rial, has hit a record low, falling to 2.02 million to the US dollar as trading opened on currency markets.

The new sanctions are expected to target countries that continue to engage with Iran economically, but Bessent declined to name specific nations.