US threatens ‘economic D-Day’ sanctions on Iran

US Treasury Secretary Scott Bessent announced a severe wave of new US sanctions against Iran on Monday, labeling the measures an “economic D-Day” intended to cut off the country’s global financial lifelines. The actions target five critical sectors—digital assets, technology, gold, aviation, and shipping—while the Treasury Department’s Office of Foreign Assets Control (OFAC) simultaneously sanctioned nearly 60 entities, individuals, and vessels involved in procurement, cyber operations, and oil revenues. Additionally, the Treasury suspended several general licenses and issued guidance regarding compliance with Iranian shipping demands in the Strait of Hormuz. In response, Iranian officials dismissed the threats, with Parliament Speaker Mohammad Baqer Qalibaf stating that Tehran’s trading partners disregard the statements, and Minister of Economic Affairs and Finance Seyed Ali Madanizadeh asserting that Iran has long been planning countermeasures to protect its economy. Credit : CGTN