US Announces New Sanctions Targeting Iran's Digital Assets, Shipping

The United States announced a new sanctions campaign against Iran on Monday, aiming for "economic asphyxiation" by targeting its digital assets, technology, gold, and shipping sectors. Treasury Secretary Scott Bessent warned that countries not joining the effort would "share in the isolation" of Iran. The expanded secondary sanctions also hit 60 individuals, companies, and vessels allegedly aiding Iran in oil revenue, weapons procurement, and cyber operations. These entities are located in the UAE, Hong Kong, China, Singapore, and Europe. Bessent vowed that any entity facilitating money laundering for Iran would be removed from the US dollar system. The announcement comes amid a stalemated war and stalled peace talks, with Iran blocking most traffic through the Strait of Hormuz. Iran's economy minister dismissed the threat, citing a two-year readiness plan, while analysts noted Tehran has weathered decades of sanctions and believes it can absorb the pressure.