How US sanctions on Iran ripple through global markets and consumers

The administration of United States President Donald Trump has announced new economic sanctions on Tehran, describing the measures as an “economic D-Day” as the US war on Iran approaches the six-month mark.US Treasury Secretary Scott Bessent announced the sanctions on Monday, alongside a naval blockade of Iranian ports.Recommended Stories list of 4 itemslist 1 of 4US threat of ‘economic D-Day’ for Iran tests Trump’s China detentelist 2 of 4Trump slams Canada with new 50 percent auto tariffs from Januarylist 3 of 4What to expect as Iran braces for new US economic measures amid warlist 4 of 4Trump administration seeks to formalise H-1B fee of more than $100,000end of listBessent said the sanctions target key sources of Iran’s revenue, including its oil and gas industry, and called on countries around the world to cut economic ties with Tehran.What are the sanctions?The Treasury Department said the sanctions will target Iran’s aviation, digital assets, gold, technology and shipping sectors, as well as impose sanctions on 60 specific individuals and vessels.“The main point is that Iran seems to have much less room than it did in previous years to simply work around sanctions,” Peiman S...