US expands Iran sanctions in push for economic asphyxiation

The US announced expanded sanctions against Iran on Monday, aiming for "economic asphyxiation" of the regime nearly six months into a stalemated war. Treasury Secretary Scott Bessent detailed new secondary sanctions targeting Iran's digital assets, technology, gold, aviation and shipping sectors, plus 60 entities aiding oil revenue, weapons procurement and cyber operations. He warned countries not joining the campaign would share Iran's isolation. Iran dismissed the threat, citing readiness with a two-year plan. The US naval blockade has already cut Iran's oil exports from two million barrels daily pre-war to 0.4 million by mid-August, with Defense Secretary Pete Hegseth saying military strikes remain possible.