US Treasury Secretary: Noose Tightening on Tehran's Economy; All Remaining Funding Sources to Be Cut Off

The U.S. Department of the Treasury announced that the Trump administration has imposed new sanctions on Iran targeting 16 individuals and 10 entities. In a statement posted on the Treasury’s website, U.S. Treasury Secretary Scott Bessent said that the squeeze on the Iranian economy is tightening, emphasizing that the United States will not stop until it drains the Iranian regime’s coffers, adding, “We will cut off all remaining sources of financing for Iran.” Bessent further stated, “Under President Trump’s leadership, the Department of the Treasury will not allow the Iranian regime to continue its long history of exploiting religious institutions to enrich its elite and fund terrorism. By identifying and reporting such potential exploitation, financial institutions can provide law enforcement agencies with highly critical information to isolate the Iranian regime and its financiers.”