U.S. prepares new Iran sanctions as Tehran warns of retaliation

U.S. Treasury Secretary Scott Bessent is scheduled to announce a new package of sanctions against Iran on Monday, August 24, 2026. He has described the measures as the single greatest financial offensive ever directed at an adversary and an "economic D-Day."

President Donald Trump previously warned of economic consequences for any country providing a lifeline to Tehran. The United States already maintains a naval blockade and has paused and restarted various restrictions over the past six months of conflict.

Iranian President Masoud Pezeshkian said on Sunday that a memorandum of understanding signed in mid-June remains the best path out of a situation of neither war nor peace. He noted the difficulty of attracting investment under current conditions.

Mohsen Rezaei, the newly appointed head of Iran's Supreme National Security Council, took a harder line. He stated that any country joining U.S. economic restrictions would be considered an enemy and that Tehran would target their interests. Rezaei also warned of "seismic" retaliation if the United States escalates further.

China buys more than 80 percent of Iran's shipped oil, according to recent shipping data. Beijing has said sanctions do not help resolve the dispute and has called for political and diplomatic solutions.

Pakistan's army chief is expected to visit Tehran on Monday as part of regional mediation efforts. Attacks in the Strait of Hormuz have calmed, but Iranian authorities continue to list vessels facing transit restrictions.

Bessent urged Iran's partners to sever ties, arguing that doing so would improve their own access to global capital and market confidence. Iranian officials have labeled the pressure campaign economic terrorism and insisted it will not alter their determination.

The new sanctions follow the collapse of earlier nuclear-related talks. Gas prices in the United States remain elevated. The announcement is expected to detail the precise financial tools and any secondary measures aimed at third-party enablers.