Treasury Secretary Scott Bessent is set to unveil a new round of sanctions against Iran on Monday, describing the measures as the single greatest financial offensive ever marshaled against an adversary. The announcement reflects a broader shift in strategy, aimed at ramping up economic pressure on the Islamic Republic in hopes of breaking the ongoing deadlock between Washington and Tehran.
Meanwhile, negotiations between Iran and Oman over the future management of the Strait of Hormuz are expected to continue Tuesday.
Read more about this topic: Trump shifts to economic warfare and naval blockade in ongoing struggle with Iran
The two countries have spent weeks discussing how to regulate shipping traffic through the strategically vital waterway, with proposals involving transit fees and designated shipping routes emerging as potential paths toward a resolution.
Iran’s president said Sunday that he still views the memorandum of understanding signed with the United States in June as the best available path toward ending the war. That agreement had established a 60-day negotiating window, a deadline that has since passed, with both countries having previously declared the deal effectively dead.
