US sanctions target 60 Iran-linked entities across oil, weapons, and cyber networks

The United States announced sweeping new sanctions on nearly 60 individuals and entities tied to Iran's oil revenue, weapons procurement, and cyberoperations, escalating economic pressure amid a diplomatic deadlock in the ongoing war. Treasury Secretary Scott Bessent described the campaign as the "economic asphyxiation" of Iran. The sanctions target networks spanning the Middle East, China, Singapore, and Europe, focusing on sectors like digital assets, technology, gold, aviation, and shipping. Key targets include a procurement network of over 20 people and entities accused of helping Iran obtain sensitive dual-use technology for nuclear research and missile development, plus companies facilitating payments for Iran's "shadow banking" networks. Iran rejected the measures, with officials vowing to counter them, while China defended its cooperation with Iran and criticized the sanctions. Notably, Chinese financial institutions were spared from the list, as Washington gave countries time to cut business ties with Iran. Analysts suggest Iran has extensive experience circumventing sanctions and will likely withstand the new pressure.