Treasury Secretary Scott Bessent announced plans for a wave of new sanctions Monday aimed at further isolating Iran, after threatening the Islamic Republic with “an economic D-Day.”

Iran’s currency hit a record low Monday as Washington prepared to announce new sanctions it said would be an “economic D-Day” and would add further pressure on an economy already battered by previous ...

But Tehran remains defiant after nearly six months of war and has brought shipping to a virtual standstill in the Strait of ​Hormuz, refusing to allow unauthorized oil tankers to transit a waterway th...