The US Treasury Secretary Scott Bessent announces a new campaign of sanctions and related pressure aimed at isolating Iran’s economy and disrupting Iran’s financial and trading links. The announcement follows President Donald Trump’s warnings of “economic” consequences for countries that provide Iran with a “lifeline,” as the US seeks to pressure Tehran during an ongoing regional conflict that started alongside Israel nearly six months ago.

Multiple outlets report that Bessent is preparing to unveil the details during a Monday press conference. BBC says the US warns it will sever economic ties with Iran and also isolate any nation that partners with Tehran financially. Bloomberg similarly describes plans to economically isolate Iran and its trading partners, framing the move as a shift from strike threats toward tighter sanctions.

Sources also note differences in specifics. Reuters reports that Bessent’s statement stops short of listing particular countries or giving a timetable for when penalties take effect, and does not include some of the most severe measures discussed publicly. Other reports add that the administration is emphasizing secondary sanctions threats, including at international finance settings such as G20 talks, and that markets react to the prospect of intensified economic pressure.