New US sanctions on Iran as Washington vows to cut its economic lifelines

Speaking at a media briefing, Scott Bessent said countries and institutions engaged in economic cooperation with Iran would be given limited time. After that, those cooperating with Iran would face US action and sanctions.

He said countries with economic ties to Iran would also have to close the branches of Iranian banks on their soil. He made it clear that Washington would use all available economic options to restrict Iran’s financial and trade activities.

The US Treasury Secretary described the new campaign as part of major economic pressure on Iran. According to US officials, the new sanctions extend secondary sanctions to third countries and financial institutions that trade with Iran.

After the announcement of the US measures, Iran has also threatened a strong response. This has raised fears of further tension in the region.