US announces expanded sanctions on Iran, Tehran says it is prepared

The United States said it has begun an "economic onslaught" against Iran's global financial links, adding that the sanctions cover digital assets, technology, gold, aviation and shipping. Treasury Secretary Scott Bessent warned that any nation or company continuing to do business with Iran could face secondary sanctions.

Iranian Economy Minister Ali Madanizadeh dismissed the announcement as "the same old talk" and said Tehran was prepared for "every scenario," noting that the country had expected the measures and had plans to mitigate them.

The new sanctions build on years of U.S. restrictions that have already reduced Iran's ability to export oil by sea and made imports of goods and equipment more difficult. Iran continues to use land routes through its seven neighboring countries to bypass some controls, though these channels cannot fully replace maritime trade.

China’s foreign ministry said it opposed the sanctions, describing them as illegal, while Pakistan and other mediators are working to revive diplomatic talks. The United States has not ruled out further military action, and officials suggest that increased pressure could influence Iranian officials who favor a negotiated settlement.

Iran’s economy has been strained by high inflation, a weakening rial and reduced oil revenues. Individuals reported sharp declines in household income and increased difficulty affording basic necessities since the sanctions and the conflict that began on 28 February.