Iran's 'Economic D-Day': U.S. widens sanctions, tells countries to pick a side

• U.S. Treasury Secretary Scott Bessent announced 'Operation Economic Outcast' against Iran, threatening secondary sanctions on entities connected to Iran and calling it 'economic asphyxiation'.
• U.S. Defense Secretary Pete Hegseth stated military action is 'firmly on the table' but economic pressure is currently most impactful.
• Iranian officials dismissed U.S. threats, with the Finance Minister calling it 'economic terrorism' and warning of an 'offensive' response.
• China's Foreign Ministry Spokesman Lin Jian urged rational action and restraint, stating sanctions will not resolve disputes, while Chinese refiners like Sinopec are boosting non-Gulf oil imports.
• The Iranian Rial has fallen to a record low against the USD on the unofficial currency market, reflecting severe economic pressure.

The U.S. has escalated sanctions against Iran, threatening 'economic asphyxiation' and secondary sanctions on countries, banks, and companies that continue to engage with Tehran. While military action remains an option, economic pressure is emphasized. Iran dismisses the threats as 'bluster' and vows an 'offensive' response. China, a major trading partner, states it will protect its interests but calls for rational action, while its refiners adjust oil imports.