The US is set to unveil its harshest sanctions against Iran, which has threatened retaliation and seen its currency hit a record low.
Published
The United States is preparing to impose what it calls the "single greatest financial offensive ever marshalled against an adversary" on Iran, with Treasury Secretary Scott Bessent and President Donald Trump framing the move as an "economic D-Day". The sanctions are expected to be announced soon, as reported by multiple outlets.
In response, Tehran has vowed to retaliate against any country that cooperates with the new US measures. Iran's threat of retaliation was reported by several sources, highlighting the potential for escalating economic and diplomatic friction.
The anticipation of these sanctions has already impacted Iran's economy, with its national currency, the rial, hitting a new record low. The currency's plunge reflects the severe pressure facing Iran's financial system ahead of the official announcement.
The effectiveness of the US sanctions will likely depend on the response from key nations such as India, China, and Russia, whose cooperation is crucial for enforcing such broad financial measures. The situation remains fluid as the international community braces for the fallout.
Sources: 1. Guardian ME: Iran vows to retaliate against countries that cooperate with fresh US sanctions — https://www.theguardian.com/world/2026/aug/24/iran-vows-retaliate-countries-cooperate-fresh-us-sanctions (src1) 2.