August 24, 2026 - US threatens sanctions on countries that don’t cut economic ties to Tehran | CNN

Get the latest updates on the war with Iran here. • Threat from Washington: The US is threatening damaging new sanctions on countries that refuse to cut economic ties with Iran — but has stopped short of actually imposing big new penalties. Treasury Secretary Scott Bessent also warned that groups helping Tehran launder money face expulsion from the US financial system. • Iranian response: Finance Minister Ali Madanizadeh said Tehran is “fully prepared” to counter sanctions while top negotiator Mohammad Bagher Ghalibaf brushed off the US threats. • Economic pressure: Iran’s currency has dropped to a record low against the dollar, and US President Donald Trump insists Iran is “collapsing.” Even though Iranians are suffering financially, the country is no stranger to economic pain. • Talks with regional leaders: Pakistan’s army chief met with Iranian officials — including Ghalibaf — in Tehran today, according to Iranian state media. Oman’s foreign minister will also visit Iran tomorrow for talks on the Strait of Hormuz. US Treasury Secretary Scott Bessent on Monday threatened new sanctions on countries refusing to cut economic ties with Iran, but stopped sh