Middle East

NPR - Treasury Secretary Scott Bessent yesterday announced new U.S. economic sanctions on Iran and what he called "its enablers." The Trump administration has referred to the initiative as an "economic D-Day," and Bessent has described the actions as an "economic onslaught" targeting Iran's global financial connections. The Treasury says it has identified networks, facilitators and financial channels that support Iran. The U.S. says it will allow countries time to change their ways before taking action. Here's what this new round of sanctions could mean after nearly six months of war with Iran — and whether this economic war can do what airstrikes and negotiations couldn't.

 The United Arab Emirates was among the first to announce it would cut off commercial trade ties with Iran, but reactions from other Gulf allies have so far been muted, NPR's Aya Batrawy says. She adds that the U.S. will need more countries to align with Trump's measures against Iran, because the president wants to crush — not just cripple — its revenue. China is the most consequential country as it is the largest importer of Iranian oil. China's foreign ministry condemned the latest U.S. measures, calling them "illicit unilateral sanctions without international legal basis." Iran's Economy Minister Ali Madanizadeh last night dismissed the U.S. actions, saying that Iran has been preparing for this and has a two-year plan to manage the consequences.