US Treasury to impose new sanctions on Iran Monday

The U.S. Treasury is expected to announce new financial pressure against Iran on Monday, following President Donald Trump's promise of an "ECONOMIC D-DAY" to force concessions as negotiations stall. The plan targets countries allowing businesses to support Iran's economy, including oil smuggling and cash transfers. Treasury Secretary Scott Bessent framed it as economic warfare, combining the naval blockade with "the toughest sanctions in history," though details on potential action against China remain undisclosed. Iran's currency hit a record low ahead of the announcement, but Tehran warned it will view support for the measures as an "act of war." Iran continues to leverage its control over the Strait of Hormuz, a vital oil shipping route.