Iran Currency
A money exchanger counts Euro bank notes at Ferdowsi square, Tehran's go-to venue for foreign currency exchange, in downtown Tehran, Iran, Monday, Aug. 24, 2026. AP Photo/Vahid Salemi)
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Treasury Secretary Scott Bessent has announced a new round of sanctions aimed at Iran. At a news conference Monday, he also warned every country that does business with the Islamic Republic to sever those financial ties or face retaliation from the United States. The sanctions aim to further cut off Iran from the rest of the world economy after President Donald Trump pledged last week to unleash an “economic D-Day” against Tehran. Washington has promised the new sanctions would put even more pressure on an Iranian economy already battered by previous sanctions and a U.S. naval blockade.
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