US economic sanctions on Iran target five sectors

Washington (ANTARA) - The new United States sanctions against Iran focus on five main sectors of the country’s economy, namely aviation, shipping, technology, gold, and digital assets, US Treasury Secretary Scott Bessent said on Monday (24/8).

“The new sectoral sanctions decision issued today targets the five most vital lifelines of Iran that it exploits in other countries, namely digital assets, technology, gold, aviation, and shipping,” Bessent said at a press conference.

The US Treasury Department also imposed sanctions on more than 60 entities, individuals, and vessels linked to Iran, he added.

Earlier, on Sunday (23/8), Bessent said in an opinion article in the Financial Times that the US, thanks to the launch of an economic operation against Iran, had entered the final stage of its conflict with the country.

US President Donald Trump announced the launch of the economic operation against Iran on Thursday (20/8) and described it as isolation on an unprecedented scale.

Tensions between the US and Iran began on 28 February when the US and Israel launched attacks on a number of targets in Iran, which Iran then retaliated against by attacking the opposing side.

In mid-June, Iran and the US signed a memorandum of understanding on a cessation of hostilities. However, shortly afterwards, the two sides again launched attacks against each other.

The conflict has not yet been resolved. Nevertheless, the two sides are not currently fighting directly, while the US relies on economic pressure against Iran.