Treasury targets financier tied to Iran's leadership and exchange houses after renewed attacks on commercial shipping in the Strait of Hormuz. The recent surge in tensions has raised concerns for global maritime trade, with many vessels opting for the southern route to avoid the volatile region.
President Donald Trump declared the June ceasefire with Iran over, paving the way for new sanctions to be imposed on key figures and entities linked to the Iranian government. The move is likely to further strain relations between the two nations and could have significant implications for the global oil market.