U.S. Treasury to Enforce Toughest Iran Sanctions

US Treasury Secretary Steven Mnuchin announced that the United States will impose the harshest economic sanctions in its history on Iran, aiming to restrict Iran's economic capabilities as part of a pressure campaign to change the Iranian regime. He emphasized that the US administration is seeking to strengthen sanctions to an unprecedented level, calling on allies and the international community to adopt a unified stance, especially considering China’s acquisition of more than 80% of Iran’s exported oil. Market prices for oil rose amid fears of supply disruptions, even though Washington insists that economic pressures will prevent Iran from broadly restarting its economy. These statements came alongside American warnings to countries that provide support to Iran. Iran responded by saying that US pressures aim to divert public attention from its financial crisis, which is characterized by high debts and elevated interest rates.

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