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Live Updates: Iran says it's ready for new sanctions U.S. describes as 'economic D-Day'

CBS News · back to the audit

Iranian Economy Minister Ali Madanizadeh said Monday that Tehran has been preparing for the new sanctions announced by the U.S. 'for a long time' and that it is ready to face them. The new U.S. sanctions announced Monday helped drag the value of Iran's currency, the rial, to a record low against the U.S. dollar. Bessent said the measures would be 'the single greatest financial offensive ever marshaled against an adversary.' Today, at President Trump's direction, the United States Treasury has begun Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its enablers.