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Global Business News

The Economic Times

Global Business / The Economic Times

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US to impose toughest sanctions in history on Iran, Scott Bessent says

United States Treasury chief Scott Bessent announced unprecedented sanctions against Iran. These stringent measures aim to avoid significant new military operations. Oil prices surged following these threats of financial penalties. Iran condemned the sanctions as economic terrorism and vowed defiance. Details of the comprehensive sanctions package will be revealed next week.

21 Aug 2026 6:08 am