Treasury Secretary Says New Iran Sanctions Measures Coming Next Week

Treasury Secretary Scott Bessent said Thursday that the Trump administration plans to announce further economic measures against Iran next week, describing them as a sharp escalation of the country's economic isolation. Bessent said the new steps build on the "maximum pressure" policy that President Donald Trump formally restored in February 2025, which directed the Treasury Department to penalize those violating Iran-related sanctions and to work to cut off revenue to the Iranian government and its proxies.

Treasury has said the effort, which it refers to as "Economic Fury," has disrupted tens of billions of dollars in revenue that could otherwise have reached Tehran and its proxies, with actions aimed at Iranian shadow banking networks, the oil industry, cryptocurrency holdings, weapons procurement and sanctions evasion. Bessent said the financial measures are being paired with a continuing U.S. blockade in the Strait of Hormuz. Treasury stepped up sanctions on Iranian shipping and financial networks in July following renewed Iranian attacks on international shipping in the strait.