US widens Iran sanctions, threatens penalties on trading partners
What's new: The move came as Iran's rial slid to 2.02 million per dollar and Washington signaled possible secondary sanctions on countries still doing business with Tehran.
The United States imposed a new round of sanctions on Iran on Monday, targeting brokers, companies and vessels tied to Iranian oil sales and warning other countries to cut economic ties with Tehran or risk penalties. Treasury Secretary Scott Bessent said the measures are meant to choke off every remaining revenue stream for Iran. Treasury said the sanctions hit a network operating through the United Arab Emirates, Hong Kong, China, Singapore, Switzerland and Europe that allegedly moves Iranian oil and funnels proceeds to the Islamic Revolutionary Guard Corps-Qods Force. The action landed as Iran's currency fell to a record low of 2.02 million rials to the dollar in open trading, underscoring the strain on an economy already battered by war, inflation and earlier US restrictions.