
US announces sweeping sanctions on Iran to isolate its economy
US Treasury Secretary Scott Bessent detailed plans for unprecedented sanctions against Iran, driving the Iranian rial to a record low.
US Treasury Secretary Scott Bessent has announced unprecedented economic sanctions aimed at isolating Iran and its trading partners from the global financial system. Speaking at a press conference, Bessent stated that Washington intends to "cut off every economic lifeline that sustains this tyrannical regime" by excluding any entities facilitating Iranian money laundering from the US dollar system. The strategy follows warnings from President Donald Trump of an "economic D-day" intended to end Middle East tensions. Bessent suggested that intensifying economic pressure could lessen the necessity for future large-scale military action, while issuing a direct ultimatum to international partners: "You are either with us or against us." Following the announcements, the Iranian rial fell to an all-time low on unregulated currency markets.
Sources: BBC News, Bloomberg, Cyprus Mail, Sweden Herald, The Guardian.

