Iran has said that it has a two-year plan to withstand expanded US sanctions after US Treasury Secretary Scott Bessent announced what he called an economic D-Day against the country.

 

Bessent said the US would cut economic ties with Iran and isolate countries that continue to financially support it. The Treasury Secretary also announced sanctions targeting five sectors including oil-related shipping, aviation, technology, gold and digital assets.

 

Iran’s Economy Minister Ali Madanizadeh said the country was prepared for the measures and had its own tools to respond. Iran has warned it could halt oil exports from the region and has restricted shipping through the Strait of Hormuz, a key route for global energy supplies. The conflict has also pushed oil and fuel prices higher, adding to cost-of-living concerns in the US and elsewhere.