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The US says it has launched an "economic onslaught against Iran's financial connections around the globe". Treasury Secretary Scott Bessent said sanctions included digital assets, technology, gold, aviation and shipping. Any nation financially partnering with Iran would be isolated. However, Bessent's announcement of what he termed an "economic D-Day" may have sounded more dramatic in Washington than in Tehran. Shortly after the announcement, Iran's Economy Minister Ali Madanizadeh called it "the same old talk" and said Iran was ready for "every scenario".
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Every month of lower oil exports, disrupted trade and pressure on the rial makes waiting for a deal to end the war more expensive.
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