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.

Iran's rial slumps to record low ahead of sanctions announcement; Tehran charges measures prove US failed in war, says it issued warnings against cooperating with pressure campaign

Bessent warns nations that ignore the sanctions and help Tehran will 'share in the isolation,' but holds off on announcing secondary sanctions against China, others

The United States is set to launch a significant financial offensive against Iran. This move aims to pressure countries to sever economic ties with Tehran. Measures will broaden…