US Treasury announces "Economic D-Day" sanctions against Iran
US Treasury Secretary Scott Bessent unveiled a sweeping new sanctions package, described as "the single greatest financial offensive ever marshalled against an adversary." The measures target Iran’s energy exports and financial networks in response to continued disruptions in the Strait of Hormuz. The US military has also deployed low-cost "drone killer" defense systems to protect a southern maritime corridor, where vessel traffic has reportedly increased by 400% despite Iranian attempts to blockade the waterway.
Date: August 24, 2026
Location: Washington D.C., United States
Conflict: US-Iran Conflict
Category: sanctions
Severity: HIGH
Source: CBS News