US Treasury to expand Iran sanctions

The U.S. Department of the Treasury intends to expand targeted secondary sanctions directed at countries and entities engaged in trade with Iran, in an effort to intensify economic pressure on Tehran and halt financial flows through the Strait of Hormuz. The measures include a warning to countries to cut their relations with Iran or face financial isolation, with the potential to exclude violating companies from the U.S. dollar-based financial system. The department will announce the details of the package during a press conference as part of a campaign called "Economic Victory Day" to support efforts to pressure Iran.

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