US TIGHTENS ECONOMIC PRESSURE ON IRAN WITH FRESH GLOBAL SANCTIONS

The United States has announced a fresh round of economic measures against Iran, targeting key sources of revenue and warning countries and companies doing business with Tehran that they could face secondary sanctions.

US Treasury Secretary Scott Bessent announced the measures on Monday, saying Washington's latest strategy is aimed at cutting off the financial channels that continue to support the Iranian government.

Bessent said the United States would target Iran's major revenue streams, including its oil trade, while seeking to discourage international businesses and governments from maintaining economic ties with Tehran.

He said the campaign would focus on five areas considered critical to Iran's economy: digital assets, technology, gold, aviation and shipping.

As part of the latest action, the US Treasury imposed sanctions on 60 entities, vessels and individuals in several countries, including the United Arab Emirates, Hong Kong, China, Singapore and Switzerland. The US accused those targeted of helping Iran maintain economic activities despite existing restrictions.

Bessent warned that businesses and countries facilitating transactions involving Iranian oil and other revenue-generating activities could also come under US sanctions.

He said Washington was prepared to expand the pressure campaign and urged Iran's international partners to reconsider their economic relationships with Tehran.

The Treasury secretary also disclosed that President Donald Trump had been contacting foreign leaders and making requests for them to reduce their engagement with the Iranian government.

The latest measures come amid the continuing conflict between Iran, the United States and Israel, with Washington increasing its reliance on economic pressure as fighting has entered a period of relative lull.

The US administration says the sanctions are intended to push Tehran back to negotiations, particularly over its nuclear programme and the wider regional security situation.

Pentagon chief Pete Hegseth said Iran would struggle to withstand the growing economic pressure and suggested that the measures could eventually force Tehran back to the negotiating table.

However, Hegseth also left open the possibility of further military action, saying the United States could resort to strikes if necessary.

Iran has rejected the latest US pressure. Foreign Minister Abbas Araghchi described the sanctions as another version of measures Tehran has faced repeatedly, arguing that Washington had not presented a fundamentally new approach.

The economic confrontation is also having wider implications because of disruptions around the Strait of Hormuz, a major route for global energy supplies. Continued instability around the waterway has contributed to concerns over oil and gas prices and the potential impact on the international economy.

Bessent acknowledged the broader risks associated with imposing secondary sanctions on countries that continue trading with Iran, saying the US wanted to apply pressure without destabilising the global financial system.

The latest measures therefore represent a significant escalation in Washington's economic campaign against Tehran, as the Trump administration seeks to weaken Iran's financial capacity and pressure its leadership into making concessions.