The United States on Aug. 24 launched a broad economic campaign against Iran, sanctioning nearly 60 entities, individuals and vessels and warning third countries that continued dealings with Tehran could expose them to U.S. measures.

The United States and Iran traded defiant messages ahead of Monday’s expected announcement of new U.S. economic sanctions targeting Iran and potentially...

US sanctions intensify pressure on Iran as tensions in the Strait of Hormuz persist, raising risks for global oil markets and regional security.