US Imposes Fresh Sanctions on Iran as Conflict Escalates

The United States has imposed new sanctions on Iran, targeting a key financier linked to Iran’s new Supreme Leader, along with 13 other individuals and companies.

According to the US Treasury Department, the sanctions target Iranian banker and businessman Ali Ansari, who is based in Dubai. The Treasury accused him of using a network of companies and overseas investments to benefit Iran’s ruling elite and the Islamic Revolutionary Guard Corps (IRGC).

The sanctions also target three Iran-based exchange houses and several foreign companies that the US says helped move billions of dollars for sanctioned Iranian banks through complex financial networks.

US State Department spokesman Tommy Pigott said, “The United States is taking decisive action to cut off the financial lifelines sustaining Iran’s ruling elite.” He added that the measures are aimed at limiting Iran’s access to foreign currency and international financial markets.

The sanctions were announced after renewed tensions in the Strait of Hormuz, where Iranian forces reportedly attacked commercial oil tankers, followed by US strikes on Iranian sites and Iran’s response against US military bases in Gulf states.

US President Donald Trump said on Friday that the ceasefire with Iran was over, although Washington had agreed to continue talks after Iran’s request.

US Treasury Secretary Scott Bessent said the department would “continue using every tool at its disposal” to isolate Iran’s top leadership from the global financial system.

Iranian Foreign Minister Abbas Araghchi criticized the new sanctions, saying they violated Article 9 of the memorandum of understanding signed last month. He wrote on X, “Reality check: There can only be mutual compliance,” adding that Iran has “so far kept its word.”

Iran has warned that it is ready for “all-out defence” if the United States violates the agreement. Iranian officials also said the country would continue responding to any actions it believes break the terms of the memorandum of understanding.