The United States on Monday announced massive new economic sanctions against Iran, expanding restrictions to five additional sectors in an effort to increase pressure on and further isolate the country.
According to a notice published by the Treasury Department's Office of Foreign Assets Control, the sanctions are now extended to Iran's aviation, digital assets, gold, shipping, and technology sectors.
It also said that the United States would suspend multiple general licenses related to Iran, covering certain educational activities and services, personal remittances, and sports and academic exchanges.
U.S. Treasury Secretary Scott Bessent told a press conference Monday that "We are launching an economic onslaught against Iran's financial connections around the globe," adding "Our objective is to sever every economic lifeline" that sustains the country.
Bessent further warned that Washington is no longer acceptable to operating in the "gray spaces" of this conflict and threatened to move unilaterally through Treasury authorities if some countries do not cut financial ties with Iran.
He also cautioned that any entity found to be involved in money laundering on behalf of Iran would be cut off from the U.S. dollar system.
The latest measures represent a significant escalation in U.S. pressure on Tehran, as President Donald Trump's administration continues to pursue what it describes as a policy of maximum economic pressure.
On June 18, Iran and the United States signed the peace memorandum of understanding (MoU) on ending the war in the region on all fronts, including Lebanon. Under the MoU, the two countries were scheduled to hold negotiations within a 60-day period, ending on Aug. 17, to reach a final agreement. However, the fate of the talks has been hanging in the balance amid the continued escalations between the two countries since the signing of the document.
US unveils massive new sanctions to cripple Iran's economy
