US threatens countries doing business with Iran, but holds off on penalties for now

By David Lawder and Humeyra Pamuk

WASHINGTON, Aug 24 (Reuters) - President Donald Trump's administration on Monday announced a possible expansion of sanctions on countries doing business with Iran as part of what it billed as an "economic D-Day," but stopped short of actually imposing penalties.

As the war with Iran nears its six-month mark, Treasury Secretary Scott Bessent said the U.S. was launching an "economic onslaught" against Iran's financial connections around the globe.