US sanctions on Iran test regime's resilience amid economic strain

The US has announced sweeping new sanctions against Iran, calling it an "economic D-Day" targeting financial connections, digital assets, technology, gold, aviation, and shipping. Treasury Secretary Scott Bessent warned that nations partnering with Iran would face isolation. Iran's Economy Minister Ali Madanizadeh dismissed the measures as "the same old talk," saying Tehran expected them and has plans for "every scenario." The country has long faced US sanctions, and the key question is whether Washington can enforce them more broadly than before, particularly regarding China and Iran's neighbours. Iran's economy is already struggling with high inflation and a weakening currency, worsened by US and Israeli strikes since February. While Tehran hopes US political pressures ahead of November midterms may ease restrictions, its leaders face a difficult choice between conceding under pressure or waiting with a deteriorating economy.