US threatens sanctions on Iran trade partners as Tehran pushes back

The US has threatened new sanctions against countries maintaining economic ties with Iran, though no major penalties were imposed. Treasury Secretary Scott Bessent announced the measures Monday, calling them part of an "economic D-Day" against Tehran. Iran responded defiantly, with Finance Minister Ali Madanizadeh saying Tehran is "fully prepared" to counter sanctions and warned of offensive measures. The rial has dropped to a record low above 2 million per dollar. China, India, Turkey, Iraq, and the UAE are considered most at risk. Pakistan's interior minister reported a "positive and productive" meeting with Iranian President Masoud Pezeshkian on mediation efforts. Oman's foreign minister is expected in Tehran Tuesday. An unidentified projectile also disabled an oil tanker near Oman, with the crew reported safe.