US sanctions Iran, warns allies of economic isolation

The United States announced Monday a new sanctions package targeting Iran's economic resources and warning allies against supporting Tehran, which called the move an admission of defeat. Treasury Secretary Scott Bessent detailed secondary sanctions on gold, technology, digital assets, aviation, and shipping, threatening non-compliant nations with exclusion from the dollar system. He did not specify implementation dates or target countries. Iran's economy minister promised a two-year counter-plan, while President Pezeshkian acknowledged significant economic difficulties. Inflation reached 66% in July, and oil exports fell to 0.4 million barrels daily by mid-August.