Shibbir Ahmed, WASHINGTON DC — The United States is preparing to intensify economic pressure on Iran with a new campaign of weekly secondary sanctions, Treasury Secretary Scott Bessent said Monday, as military tensions between Washington and Tehran sharply escalated.

Bessent told Reuters that the U.S. Treasury Department is expected to announce new secondary sanctions every week, beginning with measures targeting banks and financial institutions that help Iran maintain access to international markets.

The planned measures are designed to further restrict Iran’s access to the global financial system and increase pressure on institutions and countries that continue doing business with Tehran. The announcement comes as the United States and Iran have entered their most serious period of renewed hostilities in weeks.

U.S. forces struck two Iranian launchers on Larak Island on Sunday after American forces identified what U.S. officials said were preparations by Iran’s Islamic Revolutionary Guard Corps to launch rockets carrying sea mines into the Strait of Hormuz.

Iran responded by launching missiles toward U.S. military bases in Jordan, according to U.S. and Iranian officials. The attacks marked the first direct exchange of fire between the two sides in about a month. President Donald Trump on Monday warned that the United States would respond forcefully to Iran’s attacks. The latest escalation has raised concerns about a wider regional conflict, particularly because of the strategic importance of the Strait of Hormuz, a critical route for global oil shipments.

Financial Pressure on Iran

The planned sanctions would expand the use of so-called secondary sanctions, which can penalize foreign companies, banks and other institutions that conduct certain business with Iran even when those entities are not based in the United States.

Bessent said the campaign would initially focus on banks and could increasingly target institutions that help Iran move money through the international financial system. The Treasury secretary’s announcement represents a further expansion of the administration’s economic campaign against Tehran.

The United States has already broadened the range of Iranian economic activities that could expose foreign businesses to secondary sanctions, including sectors such as digital assets, gold, technology, aviation and shipping.

Last week, the Treasury Department launched what it described as an unprecedented campaign against Iranian financial networks, targeting channels used by Tehran to generate revenue, evade sanctions and finance activities opposed by Washington.

Military Tensions Add to Economic Pressure

The new sanctions strategy comes as diplomatic and military tensions continue to worsen. The U.S. military said its strike on Larak Island was aimed at preventing Iran from deploying sea mines in the Strait of Hormuz. Iran has rejected the U.S. justification and warned that it would respond to further attacks.

Following the Iranian missile launches toward U.S. forces in Jordan, Trump said the United States would respond strongly. Reuters reported that the exchange of attacks represents a renewed escalation after a period in which the two sides had avoided direct military confrontation.

The conflict has also affected global energy markets. Brent crude oil futures settled more than 2.5% higher on Monday after the latest U.S.-Iran military exchanges, reflecting renewed concerns over the security of oil shipments through the Strait of Hormuz.

Pressure on Iran’s Financial Lifelines

The Trump administration has increasingly focused on Iran’s financial networks as part of its broader strategy to weaken Tehran’s ability to fund its government, military and regional activities.

The planned weekly sanctions would represent a significant escalation because foreign financial institutions could face increasing pressure to choose between maintaining business relationships with Iran and retaining access to the U.S.-dominated international financial system.

For Iran, the measures could further complicate access to foreign currency, international banking services and overseas trade. For the United States and its allies, however, the strategy carries its own risks, particularly if increased economic pressure contributes to further military escalation or disruption of global energy supplies.

With the United States preparing additional sanctions and military tensions rising, the coming days could determine whether the latest confrontation remains limited or develops into a broader regional crisis.

Shibbir Ahmed, Washington, D.C.: The administration of U.S. President Donald Trump has formally submitted a civil nuclear cooperation agreement with Saudi Arabia to Congress for review. However, the Trump administration remains firm that Saudi Arabia must normalize relations with Israel and join the Abraham Accords as part of the broader agreement.

Under the U.S. Atomic Energy Act, the agreement is now subject to congressional review. Congress has 90 days to review and potentially reject the agreement. If Congress does not pass a joint resolution of disapproval during that period, the agreement could take effect.

Last month, U.S. and Saudi energy officials signed the agreement in Washington. Under the deal, U.S. companies would be able to participate in the development of Saudi Arabia’s civilian nuclear program. The proposed agreement could remain in effect for 30 years.

However, the Trump administration’s condition regarding Israel has created new uncertainty over the future of the agreement. Saudi Arabia has long maintained that it would want to see credible progress toward the establishment of a Palestinian state before normalizing diplomatic relations with Israel. Israeli Prime Minister Benjamin Netanyahu, meanwhile, has opposed the establishment of a Palestinian state.

The agreement has also raised concerns among some members of Congress and nuclear nonproliferation experts. In particular, there are concerns that allowing Saudi Arabia to pursue uranium enrichment in the future could increase the risk of a nuclear arms race in the Middle East.

The key issue: The Trump administration wants to advance long-term civilian nuclear cooperation with Saudi Arabia while linking the agreement to its broader diplomatic goal of normalizing Saudi-Israeli relations. The agreement’s next steps will therefore depend on both Congressional review in Washington and Riyadh’s position on normalization with Israel.

Shibbir Ahmed, WASHINGTON DC: President Donald Trump said Tuesday that the United States has cleared all naval mines from the international waters of the Strait of Hormuz, while warning Iran that any vessel attempting to place new mines in the strategically vital waterway would face an immediate military response.

Trump said the U.S. Navy had informed him that the mines had been removed or detonated from international waters in the strait. He also issued what he described as a “zero tolerance” warning against any attempt to lay new mines.

“Any vessel or boat putting mines in the International Waters of the Strait of Hormuz will be immediately and systematically destroyed,” Trump said in a Tuesday post on social media, according to reports. The announcement marks a significant development in the continuing confrontation between Washington and Tehran over control and security of the waterway, one of the world’s most important energy corridors.

U.S. military operation

The mine-clearance operation focused on the main international shipping lanes through the Strait of Hormuz. Axios reported that the U.S. military had been directing oil tankers through a southern lane near Oman while clearance operations were underway. Two U.S. officials confirmed that the mines had been removed from the main shipping channel.

Trump also said the U.S. Space Force was monitoring the entire strait, underscoring Washington’s determination to detect any renewed attempt to disrupt maritime traffic.

However, maritime-security authorities continue to warn that mine-related risks have not necessarily disappeared entirely. One industry report said danger areas remain active and that clearance operations are continuing despite Trump’s announcement.

Critical route for global energy

The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. It is a crucial route for global oil shipments. According to Reuters, oil shipments through the strait have fallen to roughly 5 million barrels per day, compared with more than 20 million barrels per day before the conflict. Any renewed mining of the waterway could therefore have immediate consequences for international shipping, energy markets and oil prices.

Iran and Oman seek separate arrangement

The U.S. announcement comes as Iran and Oman are discussing arrangements for managing maritime traffic through the strait. The two countries are reportedly considering a phased traffic-management system, including a temporary navigation corridor and mine-clearance efforts.

The parallel diplomatic discussions suggest that, despite the U.S. military’s declaration that the international waters have been cleared, the broader question of how commercial shipping will safely operate through the waterway remains unresolved.

For Washington, maintaining freedom of navigation through Hormuz is also directly linked to global energy security. The White House has previously described reopening the strait and restoring free navigation as a central element of its agreement with Iran.

Trump’s latest warning makes clear that the administration intends to respond forcefully to any renewed attempt to threaten maritime traffic. The situation remains fluid as the United States, Iran and regional governments navigate the security and diplomatic consequences surrounding one of the world’s most strategically important waterways.