US Imposes Sanctions on Iran Amid Ongoing Economic Tensions
The US has announced 'Economic D-Day' sanctions targeting nearly 60 Iran-linked individuals and entities as part of 'Operation Economic Outcast'. This initiative aims to cripple Iran's economy amidst a war, with the Iranian rial currently valued at 2 million to one US dollar. US Treasury Secretary Scott Bessent stated that the goal is to sever economic ties supporting the Iranian regime. In response, Iran's Supreme National Security Council secretary Mohsen Rezaei warned of retaliation against US economic interests if the blockade continues. The US sanctions come as oil prices rise due to disruptions in the Strait of Hormuz, a critical route for global oil supplies. Iran has also indicated plans to expand strikes on regional oil producers and warned against countries participating in US-led economic restrictions.
Published 1 day ago • 28 Aug 2026, 07:15 AM IST