US to Expand Iran Sanctions in Major Financial Push

The United States will announce its most extensive financial offensive against Iran on Monday, broadening secondary sanctions to pressure countries into severing economic ties with Tehran or risk losing access to the dollar-based financial system. Treasury Secretary Scott Bessent will outline measures targeting entities and nations maintaining business with Iran, aiming to halt attacks on Gulf shipping and Red Sea vessels. The sanctions may sharpen enforcement against oil shippers, purchasers, and currency exchangers, with China, Iran's largest oil buyer, a key focus. Pakistan's army chief visited Iran for regional stability talks, while oil prices eased as investors awaited the announcement. Iran warned of tighter shipping restrictions through the Strait of Hormuz, and its currency hit a record low amid ongoing conflict that has killed thousands since February.