US announces fresh sanctions on Iran, targets five key sectors

WEB DESK: The United States has announced new sanctions on Iran, targeting five key sectors as Washington steps up pressure on Tehran and seeks to cut its economic ties with the global community.

According to the US Treasury Department, the measures target the digital assets, technology, gold, aviation and maritime shipping sectors, with possible secondary sanctions aimed at businesses and countries continuing to deal with Iran.

The Treasury Department said it has also suspended some licenses for transferring funds to Iran.

Sanctions have been imposed on around 60 Iran-linked entities, individuals and vessels. Brokerage companies based in the UAE, Hong Kong, China, Singapore and Europe are also among those affected.

US Treasury Secretary Scott Bessent said President Donald Trump is making calls to world leaders to push for an end to economic relations with Iran.

Bessent said countries have been given a deadline to stop trading with Iran and warned that failure to comply could lead to unilateral action by the US Treasury Department.

He also said countries have been given deadlines to shut down branches of Iranian banks operating in their territories.

Bessent warned that no country, including China, would be beyond the reach of US sanctions.