The United States is preparing a major new sanctions package against Iran, escalating economic pressure nearly six months into the conflict. Treasury Secretary Scott Bessent is scheduled to detail the measures Monday at 2 p.m. EDT, describing the campaign as an economic D-Day aimed at cutting Tehran off from its remaining sources of revenue.
Iran responded with a direct warning. Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said countries that participate in or support the U.S. economic campaign could be treated as taking part in an act of war. He also threatened to stop oil exports through the Strait of Hormuz and elsewhere in the Persian Gulf if the pressure continues.
The sanctions are expected to focus on Iranian oil sales, banking channels, transportation networks and foreign trading partners.
Tensions around Hormuz remain especially significant because roughly one-fifth of global oil supplies move through the waterway. Iran has recently allowed some Iraqi oil tankers to transit the strait, while oil prices fell Monday as markets awaited Washington’s announcement.
Iranian President Masoud Pezeshkian has continued calling for a diplomatic solution.
