US sanctions Iran and warns allies of economic isolation

The United States announced Monday a new sanctions package aimed at cutting off all of Iran's economic resources, while warning countries that continue supporting Tehran. Iran's government called this an admission of defeat by Washington. Treasury Secretary Scott Bessent detailed secondary sanctions targeting Iran's commercial partners in gold, technology, digital assets, aviation, and shipping. He threatened that nations not participating would share Iran's isolation and be expelled from the dollar system, without specifying implementation dates or target countries. Iran's Economy Minister Ali Madanizadeh promised a new defeat for Washington, citing a two-year plan to counter sanctions. The strategic Strait of Hormuz remains locked by Tehran for six months, while inflation hit 66% and oil exports fell to 0.4 million barrels daily.