
US details plans for sweeping Iran sanctions as rial hits record low
US Treasury Secretary Scott Bessent announced strict new sanctions against Iran, driving the Iranian rial to a record low as Washington seeks to isolate Tehran's financial system.
US Treasury Secretary Scott Bessent has outlined upcoming sanctions designed to isolate Iran from the global dollar system and cut off its financial lifelines.
Speaking ahead of the official announcement, Bessent stated that Washington intends to bar any entities facilitating Iranian money laundering from dollar-based transactions. Following the policy announcements and threats of an "economic D-day" from President Donald Trump, the Iranian rial dropped to an all-time low on unregulated markets, trading at nearly two million per dollar.
Bessent framed the measures as a way to avoid future military conflict, suggesting intense economic pressure could reduce the need for large-scale armed operations. However, he also called on international allies to back the initiative, warning that global partners must decide whether to align with Washington's efforts.
Sources: BBC News, Bloomberg, Cyprus Mail, Sweden Herald, The Guardian.



