US sanctions target Iran trade to cut off revenue

The United States announced tightened economic sanctions against Iran and all countries still trading with it, aiming to cut off revenue sources. Treasury Secretary Scott Bessent called it an "economic D-Day." The sanctions target Iran's Revolutionary Guard revenue streams, focusing on digital assets, technology, gold, aviation, and shipping. Nearly 60 institutions, individuals, and ships were also blacklisted, with a financial institution to be sanctioned later this week. The announcement comes nearly six months into the US-Iran war, with no visible diplomatic progress. Iran's economy ministry predicted a "new defeat" for Washington, claiming Tehran has a two-year plan to manage the situation.