The US is threatening damaging new sanctions on countries that refuse to cut economic ties with Iran, but has stopped short of actually imposing big new penalties. Follow for live updates.

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

Treasury Secretary Scott Bessent called the campaign “the single greatest financial offensive ever marshalled against an adversary.” Follow for live updates.

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…