Bessent announces new U.S. sanctions on Iran

U.S. Treasury Secretary Scott Bessent is set to unveil a new round of economic sanctions against Iran on Monday, August 24, 2026, in a campaign he has described as the "single greatest financial offensive ever." The move, which President Donald Trump has called an "economic D-Day," aims to sever all remaining financial ties to Tehran and pressure countries that continue doing business with the Islamic Republic. In an op-ed published in the Financial Times ahead of a scheduled press conference, Bessent stated the objective is to "sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone.