Kathmandu [Nepal], August 25 – The United States has announced a major new package of sanctions against Iran and warned countries that continue economic cooperation with Tehran of possible international isolation.
US Treasury Secretary Scott Bessent described the measures as the “largest financial attack” against Iran to date calling them an “economic D-Day” for the Iranian government. He said Washington would cut all economic ties with Iran and warned countries maintaining economic partnerships with Tehran that they could also face international isolation.
The latest US warning comes as the White House has repeatedly changed decisions and extended deadlines amid efforts to end the conflict with Iran.
Iranian Economy Minister Ali Madanizadeh said Tehran had prepared a two-year plan to withstand the sanctions. According to the BBC, he claimed the plan would ultimately result in another defeat for the United States.
Meanwhile the conflict has pushed up global oil prices. Following the latest US warning Iran threatened to halt all oil exports from the region if the war continues.
Iran has also renewed its warning to vessels against passing through the Strait of Hormuz without its permission, Reuters reported.
The narrow waterway off southern Iran normally carries about one-fifth of global oil and gas shipments. However, since the conflict began at the end of February Iran has effectively disrupted maritime traffic through the strategic route contributing to higher oil prices worldwide.
At a press conference on Monday Bessent outlined the US campaign dubbed “Operation Economic Outcast,” saying Washington had launched an economic attack against Iran’s financial relationships worldwide.
