{"id":262378,"date":"2026-08-24T11:01:13","date_gmt":"2026-08-24T11:01:13","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/262378\/"},"modified":"2026-08-24T11:01:13","modified_gmt":"2026-08-24T11:01:13","slug":"u-s-prepares-to-announce-new-sanctions-on-iran-as-mediators-hold-talks-on-economic-d-day","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/262378\/","title":{"rendered":"U.S. prepares to announce new sanctions on Iran as mediators hold talks on \u2018economic D-Day\u2019"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

People walk past shops at a market area in Tehran on Monday. Iran has been bracing for the sanctions for days, issuing a series of strongly worded statements hinting at a major military response.-\/AFP\/Getty Images<\/p>\n

Pakistan\u2019s army chief was visiting Tehran on a mediating mission on Monday as the United States prepared to roll out \u201cthe greatest financial offensive ever\u201d targeting Iran\u2019s trade partners.<\/p>\n

Iran dismissed the U.S. threat, vowing to shut down all oil exports from the Gulf \u201cif the economic war continues\u201d and issued a new warning to shipping not to pass through the Strait of Hormuz without its permission.<\/p>\n

U.S. Treasury Secretary Scott Bessent has promised to reveal severe measures on Iran, which has endured near-continuous economic sanctions since the Islamic Revolution of 1979, when he gives a press conference at 1 p.m. EDT on Monday.<\/p>\n

\u201cAt dawn begins an economic D-Day \u2013 the single greatest financial offensive ever marshalled against an adversary,\u201d Bessent wrote in an opinion piece published in the Financial Times on Sunday.<\/p>\n

Pakistan\u2019s army chief Asim Munir, who has built a personal rapport with U.S. President Donald Trump, arrived in Iran for talks, Iranian media said. Pakistan said the visit was part of its efforts \u201cto promote regional peace and stability,\u201d and a Pakistani source said Munir was expected to meet people close to Iran\u2019s supreme leader. <\/p>\n

Tehran has said Oman\u2019s foreign minister will visit on Tuesday to discuss the Strait of Hormuz.<\/p>\n

Oil falls as U.S. prepares to unveil new Iran sanctions<\/a><\/p>\n

Projectile hits tanker near Saud Red Sea port, monitors say<\/p>\n

The U.S. and Iran have not conducted strikes against each other\u2019s militaries for weeks, but their last official face-to-face talks to end the six-month-old conflict took place in June and strikes on vessels in the Strait of Hormuz have continued.<\/p>\n

A projectile struck a tanker west of the Saudi port city of Yanbu in the Red Sea on Monday, causing a fire on the main deck, shipping monitors from the United Kingdom Maritime Trade Operations said. They did not say who had launched the projectile. Iran\u2019s Houthi allies last month said they would block Saudi oil exports diverted to the Red Sea to avoid Hormuz.<\/p>\n

Thousands of people have died, most of them in Iran and Lebanon, since the U.S. and Israel began strikes on Feb. 28, degrading much of Iran\u2019s conventional military capacity and inflicting economic pain while killing Iran\u2019s then-Supreme Leader Ayatollah Ali Khamenei.<\/p>\n

But Iran has preserved enough missile and drone capability to attack its Gulf neighbours and threaten oil tankers in the Strait of Hormuz, bringing shipping in the key waterway to a near standstill and pressuring world fuel prices. The exact state of Iran\u2019s nuclear program, which the Americans and Israelis aim to wipe out, remains unknown.<\/p>\n

Oil prices slipped more than US$1 a barrel on Monday as investors took profits ahead of the expected U.S. announcement.<\/p>\n

Open this photo in gallery:<\/a><\/p>\n

An Iranian man walks past an anti-U.S. billboard at Enghelab Square in central Tehran on Aug. 3.ATTA KENARE\/AFP\/Getty Images<\/p>\n

Without detailing specific measures, Bessent signalled the U.S. would target \u201cfearful nations\u201d that practice \u201cappeasement\u201d by engaging with Iran\u2019s economy and financial system.<\/p>\n

\u201cThey would do well to consider the consequences of sustaining it,\u201d he wrote in the Financial Times.<\/p>\n

Iran has been bracing for the sanctions for days, issuing a series of strongly worded statements hinting at a major military response.<\/p>\n

Mohsen Rezaei, secretary of Iran\u2019s Supreme National Security Council, on Sunday suggested economic retaliation.<\/p>\n

\u201cIf the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf,\u201d Rezaei wrote in a social media post. \u201cIran will regard any country\u2019s participation in or support for America\u2019s economic war against the Iranian people as an act of war.\u201d<\/p>\n

U.S vows \u2018economic D-Day\u2019 as Iran calls sanctions an \u2018act of war\u2019<\/a><\/p>\n

China says sanctions and pressure tactics won\u2019t work<\/p>\n

Bessent previously urged China to co-operate with the U.S., noting China historically has received half of its oil imports from the Gulf region. China\u2019s foreign ministry said on Monday that sanctions and pressure tactics do not help resolve issues and that Beijing would do what was necessary to protect the country\u2019s interests.<\/p>\n

Iran\u2019s Deputy Foreign Minister Kazem Gharibabadi dismissed the latest moves from Washington, which has said the measures will bring down the Iranian government, saying the U.S. has been promising Iran\u2019s end for 48 years, \u201ceach time under a new name.\u201d<\/p>\n

\u201cIran has remained steadfast and powerful, and only the names of the failed projects have changed,\u201d he said on X.<\/p>\n

Iran\u2019s economy was already under pressure from international sanctions before the U.S. and Israeli attacks destroyed parts of its infrastructure.<\/p>\n

Though Tehran remains outwardly defiant, Iranian officials who spoke to Reuters have expressed concern that further economic punishment could increase hardships, reignite unrest and further erode the Islamic Republic\u2019s legitimacy.<\/p>\n

Iran entered the war with high inflation, a weakening currency, energy shortages, sanctions and deep structural weaknesses, and must now contend with damaged infrastructure, disrupted trade, lost production and the cost of rebuilding.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: People walk past shops at a market area in Tehran on Monday. Iran…\n","protected":false},"author":2,"featured_media":262379,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3],"tags":[950,936,951,158,928,952,949,927,942,943,939,929,926,147,948,703,941,934,963,930,931,394,34,937,938,674,953,345,958,959,961,956,960,954,957,932,945,946,81,944,955,935,947,462,940,933,82,962],"class_list":["post-262378","post","type-post","status-publish","format-standard","has-post-thumbnail","category-iran","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-iran","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/262378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=262378"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/262378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/262379"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=262378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=262378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=262378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}