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NewsWPLG Local 10 – Main FeedAugust 24, 2026Miami-Dade

Treasury Secretary announces new U.S. sanctions targeting all Iranian revenue sources

Treasury Secretary Scott Bessent announced that the U.S. will impose new sanctions aimed at blocking all potential revenue for Iran and warned that nations continuing economic ties with Tehran face potential secondary sanctions. This move follows a record decline in the Iranian rial and ongoing tensions regarding control of the Strait of Hormuz.

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Why It Matters

The new policy threatens to penalize any country or entity that maintains trade with Iran, potentially disrupting global supply chains and further isolating the Iranian economy.

Key Facts

  • The U.S. Treasury is implementing new sanctions to block all Iranian revenue sources.
  • The U.S. threatened secondary sanctions against any nation that continues economic engagement with Iran.
  • The Iranian rial hit a record low of 2.02 million to the U.S. dollar on market exchanges.
  • Rice prices in Iran have increased by approximately 60% since the conflict began.
  • Beef prices in Iran have increased by over 150% since the conflict began.
  • The IMF forecasts Iran's GDP will contract by more than 5%.
  • The United Arab Emirates suspended all trade with Iran last week.
  • Pakistan sent a high-level delegation to Tehran to encourage negotiations.
  • Iran and Oman are reportedly finalizing a plan for joint management of the Strait of Hormuz.

Who's Mentioned

personScott Bessent“U.S. Treasury Secretary”other60“Percentage increase in rice prices”locationChina“Major trade partner of Iran”locationTurkey“Major trade partner of Iran”personSadegh Mahmoudi“Tehran resident”locationUnited Arab Emirates“Major trade partner of Iran”personEskandar Momeni“Iranian Interior Minister”personMohsin Naqvi“Pakistani Interior Minister”locationIran“Target of sanctions”other73“Age of resident Sadegh Mahmoudi”personAsim Munir“Pakistani Field Marshal”personDonald Trump“U.S. President”