New Sanctions Against Iran Aim to Cut the Country Off From the Global Economy

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The Trump administration unveiled a series of new sanctions against Iran Monday, aiming to cut the country off from the global economy and block its sources of revenue.

Treasury Secretary Scott Bessent outlined measures that extend beyond Iran’s borders to penalize foreign banks, companies, and countries that conduct specific business with Iran.

Bessent says [8/24/26], "Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system. The clock just started ticking."