The United States has announced a significant expansion of sanctions against Iran, which Treasury Secretary Scott Bessent described as an "economic D-day." The new measures target the Iranian regime and countries that engage in business with it.
Iranian Economy Minister Ali Madanizadeh stated that Tehran is prepared for the sanctions, which he characterized as a potential "defeat" for the U.S. The measures come amidst decades of existing sanctions that have previously impacted Iran's economy.
The BBC's business editor Simon Jack characterized the U.S. action as the "financial equivalent of a military attack using money, not missiles," highlighting the severity of the economic pressure being applied.