Aug 25, 2026 – 5.18amWashington | The Trump administration is threatening to impose sanctions on nations that do business with Iran or provide cover for its illicit economic activities as Treasury Secretary Scott Bessent escalates efforts to financially squeeze the Islamic Republic.As the US seeks a new approach to ending the six-month war following the failure of negotiations between Tehran and Washington, Bessent said on Monday (Tuesday AEST) that President Donald Trump had called world leaders on the weekend with “specific requests to cease their interactions with the regime”.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles