Iran vows retaliation as US expands sanctions

The United States announced expanded sanctions against Iran on Monday, prompting Tehran to vow retaliation. Treasury Secretary Scott Bessent said the measures aim to sever Iran's economic lifeline but stopped short of targeting Chinese financial institutions, giving countries time to comply. Iranian officials expressed confidence that major trading partners like China and Russia would resist Washington's pressure campaign. Iran's economy minister warned of a potential "attack" in response, while the US offered $10 million rewards for information on five senior IRGC commanders and did not rule out further military strikes. The sanctions follow a 40-day war between Iran, the US, and Israel that began in February, which killed thousands and degraded Iran's military capacity. Oil prices steadied Tuesday after falling, with shipping data showing minimal traffic through the Strait of Hormuz, a key energy chokepoint.