U.S. Treasury to broaden scope of secondary sanctions on Iran, source says

The ​U.S. Treasury is expected to ​broaden the scope of ‌secondary sanctions ​it can impose on entities and countries that maintain business ties with Iran ‌as the Trump administration seeks on Monday to increase economic pressure on Tehran, a source familiar with the plans told Reuters.

The action is ‌aimed at giving a final warning to countries to sever their ‌business ties with Iran in an effort to force an end to the nearly six-month conflict that has bottled up the Strait of Hormuz and ⁠Gulf ​energy exports, ⁠said the source, who spoke on condition of anonymity due to not being ⁠authorized to speak publicly about the matter. U.S. Treasury Secretary Scott Bessent is ​expected to announce more details of the Iran actions on ⁠Monday at a 1 p.m. EDT (1700 GMT) press conference. The source said ⁠that ​Bessent also intended to provide a broader overview of an economic pressure campaign against Iran that he and President Donald Trump ⁠have described as an "economic D-Day", and would make it clear to countries ⁠that they ⁠must side with the U.S. or risk having key companies and entities cut off from the ‌dollar-based financial ‌system.