US Treasury announces severe sanctions against Iran over nuclear dispute
Politics · 23 August 2026
Written by AI from multiple news reports
US Treasury Secretary Scott Bessent announced plans on Monday to impose what he called the toughest sanctions ever placed on Iran. The measures are part of a broader US effort to pressure Iran economically during an ongoing conflict that began in February 2026.
Iranian Foreign Minister Abbas Araghchi rejected the announcement. He said the sanctions showed desperation and called US economic pressure a failed policy. He also accused the United States of economic terrorism.
Iran's economy is already under serious strain. Inflation has reached 77 percent over the past year. Iran has faced dozens of sanctions since 2018.