U.S. Treasury Secretary Scott Bessent speaks at a press conference in Washington, DC, on August 24, 2026. Photo Kent NISHIMURA / AFP
The United States will impose a new series of sanctions against Iran that will apply to sectors considered "vital" for Tehran, including gold, digital assets, and maritime transport, Treasury Secretary Scott Bessent announced Monday.
"The new sectoral sanctions decisions published today target five of Iran's vital sectors from which the country profits abroad: digital assets, technology, gold, aviation and maritime transport," Bessent said, warning of an "acceleration" of prosecutions against "anyone reckless enough" to do business with Iran.
The U.S. government intends to "cut off all economic resources" that "keep this tyrannical regime" in Iran alive, Bessent stated as he presented this new package of sanctions against Tehran. "Iran faces a very clear choice, with only two possible paths: total isolation and a subsistence economy, or a return to normalcy with the opportunity to join the world economy," he warned.
Countries that allow entities to "facilitate money laundering on behalf of Iran" will be "expelled from the dollar system," the Treasury Secretary further warned, adding that "the countdown has begun." More broadly, Bessent cautioned that countries that do not participate in U.S. sanctions "will share Iran's isolation," as President Donald Trump called several countries over the weekend to join his "economic war."
