US imposes new sanctions on 5 Iran sectors; rial hits low

The United States imposed new sanctions on five major sectors of Iran's economy on Monday (24/8): digital assets, technology, gold, aviation and shipping. U.S. Treasury Secretary Scott Bessent said the measure also covers more than 60 entities, individuals and vessels linked to Iran. Hours before the announcement, the Iranian rial fell to a record low on the open market, briefly touching 2.02 million rial per U.S. dollar, far below the official rate of about 1.5 million. The fresh pressure marks a shift by Washington toward economic warfare after the conflict with Iran and Israel since 28 February. U.S. President Donald Trump had previously urged Washington's allies to join the pressure on Tehran, while Iran warned that economic pressure could be met with disruption to oil exports from the Gulf region.