US expands sanctions on Iran in bid to isolate its economy

The United States announced expanded secondary sanctions on Monday aimed at isolating Iran economically, with Treasury Secretary Scott Bessent describing the move as an "economic D-Day" to sever all financial lifelines sustaining the regime. The action threatens trading partners with being cut off from the dollar-based financial system. Bessent said no nation is beyond the reach of U.S. sanctions, though he declined to name specific targets or a timeline. China, Iran's largest oil buyer, said sanctions do not help and vowed to protect its interests. The Treasury also sanctioned nearly 60 entities, individuals, and vessels across five sectors. The sanctions come amid a six-month conflict between the U.S., Israel, and Iran that has disrupted shipping and raised energy prices. Oil prices eased Monday as investors took profits ahead of the announcement. Pakistan's army chief visited Iran for talks, and a projectile struck a Saudi tanker in the Red Sea.