Iran war latest: Tehran ‘fully prepared’ for sanctions as US threatens to ‘tighten the noose’

Close US warns any country doing business with Iran faces 'full reach of American power' On The Ground newsletter: Get a weekly dispatch from our international correspondents Get a weekly dispatch from our international correspondents Get a weekly international news dispatch Email * SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice Iran has claimed to be “fully prepared” for US sanctions after Scott Bessent threatened to “tighten the noose”. Tehran ’s economy minister Ali Madanizadeh. told state TV: “We are fully prepared for the US sanctions; they cannot cut off our financial arteries.” The treasury secretary has announced a series of sanctions for Tehran, declaring that “no nation should expect to enjoy the rewards of our system while working with a regime that seeks to destroy it.” “It is now a time for world leaders to make a decision between prosperity and isolation, peace and terror, America and Iran. The campaign we begin today will gather force with every day that follows, and it will not end until this regime stands alone.” He said that an unnamed financial institution could expect to be sanctioned by the end of this week. Recommended Iranian hackers carry out unprecedented attack on UK’s power network Mariam Abu Dagga’s death in Gaza was a grievous injustice – those responsible must face the consequences Mariam’s final minutes: Inside the Israeli hospital strike that killed her – and the possible war crimes behind it Mike Pence warns Trump he’ll have to ‘go in and finish the job’ in Iran Strait of Hormuz tracker: The maps and charts that debunk Trump’s claim the route has reopened Key Points US set to unveil 'D-Day' sanctions on Iran today Trump threatens to crush Iran with ‘Economic D Day’ - but he is running out of cards to play Donald Trump sheds light on plan to increase Iran sanctions - watch The life and light of Mariam Abu Dagga – Independent Arabia journalist killed by Israel in Gaza Iran warns of ‘earthquake-like’ retaliation - watch Israel's Netanyahu says Iran tried to kill one of his sons Israeli prime minister Benjamin Netanyahu said on Monday ​that Iran had tried to kill one of his sons, but gave no details about when the alleged plot took place, which son was targeted or how close it came to ⁠being carried out. Netanyahu's allegation underscores the heightened tensions since the US-Israeli war on Iran began in February, during which supreme leader Ayatollah Ali Khamenei and other senior Iranian leaders were killed. Netanyahu, whose coalition is trailing in opinion polls two months before ⁠an 27 October general election, made ​the ⁠claim in a telephone interview with Israel's Channel 14. He was responding to reports that one of Israel's security agencies had refused ⁠to provide protection for a political rival ahead of the nationwide vote. "As ​for ⁠my sons. Here, I think ‌there is something quite unbelievable, yes. Iran targeted one of my sons. Iran tried to kill, to murder one of my sons," Netanyahu ‌told the conservative channel known for its favourable ‌coverage of the government. "Iran tried to murder one of my sons, and therefore this security protection is not a luxury," he said, without providing any further details about the ⁠alleged plot or how close it came to being carried out. It was not immediately clear which of his sons he was referring to. Netanyahu's elder son, Yair, lives in Miami. Iran's mission at the United Nations in New York did not immediately respond to a request for comment on the accusation. ( Reuters ) Bryony Gooch 24 August 2026 21:00 Hegseth: The US is not rulling out military force in Hormuz or elsewhere Pete Hegseth has said the US is not ruling out use of military force in the Strait of Hormuz or anywhere else. The Pentagon chief spoke after US treasury secretary Scott Bessent announced fresh sanctions against Iran. Bryony Gooch 24 August 2026 20:49 Iran 'fully prepared' for US sanctions Iran’s economy minister has told state TV that the country is “fully prepared” for US sanctions. “We are fully prepared for the US sanctions; they cannot cut off our financial arteries,” said Ali Madanizadeh. Bryony Gooch 24 August 2026 20:12 US sanctions to increase psychological pressure on Iranian people, state official says An Iranian state official has reportedly said the US economic sanctions plan is a campaign to increase psychological pressure on the Iranian people, according to state media. Scott Bessent announced plans on Monday to sanction Iran and isolate the nation further from the global economy. Bryony Gooch 24 August 2026 19:59 Watch: Bessent warns countries with economic ties to 'murderous' Iran regime will feel 'full reach of US power' | IN FULL Bessent warns countries with economic ties to 'murderous' Iran regime will feel 'full reach of US power' | IN FULL Bryony Gooch 24 August 2026 18:50 World leaders must choose between the US and Iran, says Bessent Scott Bessent has declared “no nation should expect to enjoy the rewards of our system while working with a regime that seeks to destroy it” as he called on world leaders to make a decision between the US and Iran. “It is now a time for world leaders to make a decision between prosperity and isolation, peace and terror, America and Iran. The campaign we begin today will gather force with every day that follows, and it will not end until this regime stands alone.” Bryony Gooch 24 August 2026 18:12 Trump calling world leaders to cut ties with Iran Donald Trump is calling world leaders to cut economic ties with Iran, US treasury’s Scott Bessent has said. He said that Trump would make specific requests to cease interactions with Iran. Bryony Gooch 24 August 2026 18:09 Operation Economic Outcast launched Scott Bessent has launched Operation Economic Outcast to foreclose options available to the Iranian regime to rejoin the global economy. “Treasury has mapped every node, every facilitator, and every network that Iran has used to smuggle oil and evade sanctions. “Beginning today, the actions of Treasury and other agencies will tighten the noose and block every potential source of revenue that funds the IRGC and the evil Iranian regime. “We are enforcing a zero leakage approach, there will be no minimal breathing space for the regime to rebuild its capacity to inflict terror against America and the world. “ Bryony Gooch 24 August 2026 18:08 Bessent announces sanctions on nearly 60 Iran-linked entities Scott Bessent is speaking now to unleash sanctions on nearly 60 Iran-linked entities, people and vessels across nuclear, missile, cyber and oil networks. The US treasury secretary has suspended general licenses that allow remittence payments to Iran. Bryony Gooch 24 August 2026 18:06 Trump’s ‘Economic D-Day’ for Iran arrives in bid to break deadlock Trump’s ‘Economic D-Day’ for Iran arrives - but he is running out of cards to play The U.S. president has threatened to impose unprecedented economic punishment on Iran, but experts tell Maira Butt that China may prove a huge obstacle Bryony Gooch 24 August 2026 17:23 Newer 1 / 6 Older