US escalates Iran isolation through new sanctions and dollar system restrictions

Treasury Secretary Scott Bessent announced comprehensive sanctions on 24 August 2026 targeting Iran's economic isolation, including threats to exclude firms from the US dollar system for laundering Iranian money. The strategy aims at 'economic asphyxiation' as an alternative to military strikes.

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How the new U.S. sanctions on Iran could affect China

rss:nbcnewsus_mainstream36d ago kagi ↗

Treasury Secretary Scott Bessent announced new sanctions against Iran and said President Trump is imploring world leaders to join in on the "economic asphyxiation" of Tehran. Bessent said there would be no exemptions to the sanctions, which could indirectly affect China. Also, Bessent said President Trump would like Canada to return to trade talks in good faith. NBC News' Christine Romans and Moni