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The U.S. has spent 20 years promising ‘crippling sanctions' on Iran. But the latest effort comes with a reverse twist, after military action failed to accomplish President Trump's goals.
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Treasury Secretary Scott Bessent unveiled new economic sanctions package against Iran. It includes measures to impose sanctions on anyone that deals with the Islamic regime in Tehran.
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Analysts say Tehran could intensify the dispute militarily after the United States announced new efforts to squeeze Iran's economy. One Iranian official vowed that "not a single drop of oil" would leave the gulf.
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Markets are bracing for more tests this week, including Nvidia's earnings, an inflation reading, and the Fed's Jackson Hole symposium.
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