The US on Monday announced an expansion of secondary sanctions it hopes will "sever every economic lifeline" that sustains Iran, Treasury Secretary Scott Bessent said at a press conference. The expanded sanctions target Iran's digital assets, technology, gold, aviation and shipping sectors.
Issued on: 24/08/2026 - 15:27
Modified: 24/08/2026 - 21:58
US Treasury Secretary Scott Bessent on Monday laid out plans for the "economic asphyxiation" of Iran, expanding Washington's secondary sanctions threats and warning of dire consequences for countries that do not join the campaign.
The announcement comes almost six months into a war on Iran that has ground to a stalemate, with stalled peace talks and Tehran blocking most traffic through the crucial Strait of Hormuz.
