Iran vows retaliation after widened US sanctions

Iran threatened to retaliate after the Trump administration on Monday unveiled a new effort to isolate the Islamic Republic from the global economy and ramp up pressure to bring the nearly six-month-long war to a close and reopen the Strait of Hormuz. Treasury Secretary Scott Bessent shared few details about “Operation Economic Outcast” in highly anticipated remarks following President Trump’s warning last week that he would hit Iran with an “Economic D-Day.” The secretary called on nations across the world to sever financial ties with the Middle Eastern country or risk being cut out of the U.S. dollar system. Iranian Economy Minister Ali Madanizadeh told state television that Iran was “fully prepared for the U.S. sanctions.” “Our defense is no longer defensive; the enemies should wait for an attack,” the Iranian official said, according to Reuters. Bessent did not name specific countries on Monday but said broadly that the Trump administration was “giving everyone the opportunity to remedy bad behavior.” Additionally, the Treasury Department chief did not provide a timeline for countries to comply with the new directive. “We’re not going to name names,” he said. “We’ve already seen some results, and I am confident the president, as you all know, is quite persuasive.” China, the largest buyer of Iranian oil, said Tuesday that new U.S. sanctions “will only further intensify tensions.” “China’s cooperation with Iran has always been conducted within the framework of internationa…