US Imposes New Economic Sanctions on Iran's Key Sectors

US Treasury Secretary Scott Bessent announced new sanctions on Monday targeting Iran's oil, gas, aviation, and shipping sectors, alongside a naval blockade of Iranian ports.

The measures impose secondary penalties on trade partners and target 60 individuals and vessels, with organizations given until September 8 to wind down operations involving previously excepted activities.

Washington alleges Iran uses cryptocurrency and gold to circumvent sanctions and facilitate transactions for the Islamic Revolutionary Guard Corps, following previous sanctions rounds in February and April 2026.