US sanctions target Iran's economy; Tehran vows two-year counterplan

The United States announced new sanctions against Iran on Monday, targeting five sectors to cut off all economic resources, with Treasury Secretary Scott Bessent warning that non-participating countries would share Iran's isolation. The sanctions target digital assets, technology, gold, aviation, and maritime shipping, affecting over 60 entities, individuals, and ships worldwide. Bessent warned that countries facilitating money laundering for Iran would be expelled from the dollar system, while China criticized the initiative. Iran's economy minister promised a two-year plan to counter the sanctions, and Defense Secretary Pete Hegseth said military strikes remain possible. The strategic Strait of Hormuz has been blocked by Tehran for six months, causing oil price surges and 66% inflation in Iran.