ONLINE EXCLUSIVES
US warns of expanded sanctions against Iran and its partners – as it happened
What you need to know
AUGUST 25, 2026 – REUTERS
- The US announced a new economic sanctions plan targeting Iran and its trade partners
- Treasury Secretary Scott Bessent said countries have a ‘timeline’ to cut business ties with Iran
- He declined to provide details on the countries targeted or when the sanctions would kick in
- Oil prices slipped more than $2 a barrel, with analysts skeptical that Washington’s latest move will significantly disrupt global crude or hit the Iranian economy
- US President Donald Trump has vowed to hit Iran hard economically and Tehran has threatened to shut down all oil exports from the Gulf ‘if the economic war continues’
- Pakistan’s army chief Asim Munir was in Iran in an effort to revive talks
