US unveils "toughest sanctions in history" against Iran as Tehran vows to block Gulf oil exports

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The Trump administration on Monday prepared to unveil what U.S. Treasury Secretary Scott Bessent called “the toughest sanctions in history” against Iran, framing the measures as the start of an “economic D-Day” and the “single greatest financial offensive ever marshalled against an adversary.” Bessent, writing in the Financial Times, said the goal was to “sever every economic lifeline” sustaining Iran until it stands alone .
Iran’s security chief, Mohsen Rezaei, warned that if the U.S. proceeds, Tehran would halt all oil exports from the Persian Gulf and the Strait of Hormuz, and treat any neighboring state joining the sanctions as “an act of war.” Rezaei said Iran would also target alternative oil export routes from the Gulf, declaring, “Not a drop of oil will leave the Persian Gulf” .
Iranian President Massud Peseschkian acknowledged “significant imbalances” in water, electricity, gas, and fuel supplies but insisted Iran would withstand the pressure, citing national resilience. Foreign Minister Abbas Araghchi dismissed the sanctions as “repetitive scenarios” and a sign of U.S. desperation, stating, “The fact that they have moved on from military operations to bring up the same old plans shows that they are desperate” .
The conflict has already disrupted global oil markets, with Iran effectively blocking shipping in the Strait of Hormuz, pushing prices higher. Since late February, U.S. and Israeli airstrikes have killed thousands in Iran and Lebanon, damaged infrastructure, and destroyed nearly 100% of Iran’s conventional military factories, according to Bessent. Iran retains missile and drone capabilities, continuing to threaten Gulf neighbors and tankers transiting the strait .
Bessent is scheduled to hold a press conference at 2 p.m. EDT to detail the sanctions, which will target countries and companies continuing trade with Iran. He warned that those fearing to oppose Tehran should “consider the consequences of maintaining” such ties .
Pakistan’s military chief, Asim Munir, arrived in Tehran on Monday as part of Islamabad’s efforts to de-escalate tensions and bring the U.S. and Iran back to negotiations, according to Iran’s state TV and regional officials .
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