US Imposes New Sanctions to Strangle Iran's Economy

The United States announced a new wave of sanctions against Iran on Monday, aiming to "asphyxiate" its economy by cutting off all financial resources, according to Treasury Secretary Scott Bessent. He warned that nations not joining the measures will share Iran's isolation. The sanctions target gold, technology, digital assets, aviation, and shipping. Bessent threatened to expel non-compliant countries from the dollar system, while President Donald Trump declared on Truth Social that "Iran is completely collapsing." The move comes as diplomatic efforts to resolve the regional conflict, which began February 28 with an Israeli-American offensive, remain stalled. Iran's deputy foreign minister questioned whether the sanctions signal US defeat, while Tehran has kept the strategic Strait of Hormuz largely locked for six months, spiking oil prices. Iran faces 66% inflation and oil exports have plummeted from 2 million barrels daily before the war to 0.4 million by mid-August.