US Treasury to broaden scope of secondary sanctions on Iran, source says

<p> WASHINGTON: The US Treasury is expected to broaden the scope of secondary sanctions ​it can impose on entities and countries that maintain business ties with Iran as the Trump administration seeks on Monday to increase economic pressure on Tehran, a source familiar with the plans told Reuters.<br /> The ‌action is ‌aimed at giving ​a ‌final ⁠warning ​to countries to ⁠sever their business ties with Iran in an effort to force an end to the nearly six-month conflict that has bottled up the Strait of Hormuz and ⁠Gulf energy exports, said the ‌source, who spoke ‌on condition of anonymity ​due to ‌not being authorized to speak publicly ‌about the matter.<br /> US Treasury Secretary Scott Bessent is expected to announce more details of the Iran actions on Monday ‌at a 1 p.m. EDT (1700 GMT) press conference.</p> <p> The source ⁠said ⁠that Bessent also intended to provide a broader overview of an economic pressure campaign against Iran that he and President Donald Trump have described as an “economic D-Day,” and would make it clear to countries that they must side with the US or risk having key ​companies and entities ​cut off from the dollar-based financial system.</p>