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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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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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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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Monday's announcement was directed at countries whose trade and business relations still benefit the Islamic Republic.
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An "economic D-Day is coming for Iran," U.S. Treasury Secretary Scott Bessent warned on Sunday.
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