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The Trump administration unveiled a plan to isolate Iran's economy by threatening to impose secondary sanctions on the Islamic Republic's "enablers."
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Analysts say Tehran could intensify the dispute militarily after attempts to squeeze its economy. An Iranian official vowed "not a single drop of oil" would leave the Gulf.
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The Trump administration calls this "economic D-Day" on Iran. Iran vows to respond to fresh sanctions in a "seismic manner."
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Treasury Secretary Scott Bessent announced a wave of new sanctions aimed at isolating Iran, after threatening the Islamic Republic with "an economic D-Day."
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Iran's economy is deteriorating under the weight of mounting sanctions, but far from unraveling, a former adviser to Iran's central bank told CNBC.
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