US Treasury targets 60 entities in Iran sanctions drive, escalating economic pressure as the administration vows to cut every financial lifeline and force Tehran to abandon its nuclear program and maritime aggression while warning that any nation or firm continuing trade with Tehran will face secondary penalties.
Secretary Scott Bessent announced the measures on Monday, August 24, 2026, expanding secondary sanctions to five critical sectors—digital assets, technology, gold, aviation and shipping—and warned that no entity is above US sanction reach and the Treasury also imposed fresh sanctions on 60 entities, vessels and individuals worldwide.
The new measures aim to sever Iran’s revenue streams, targeting oil exports, gold sales and shipping channels, which could further disrupt global energy flows through the Strait of Hormuz and increase oil price volatility for markets worldwide.
Iran’s foreign minister Abbas Araghchi dismissed the pressure as desperate, asserting that sanctions will fail to achieve political change, while the US maintains that the campaign is necessary to compel Tehran’s concessions and Tehran has responded with missile and drone attacks across the region.