Washington DC, May 1 -- The United States has announced a new wave of sanctions targeting Iran's financial and energy networks, escalating pressure on Tehran's oil revenues and its commercial links with China.

In a post on X, US Treasury Secretary Scott Bessent described Iran as "the head of the snake for global terrorism," adding that under the leadership of US President Donald Trump, the Treasury was acting "aggressively" through the initiative titled "Economic Fury".

He said, "Iran is the head of the snake for global terrorism, and under @POTUS' leadership, Treasury is moving aggressively, through Economic Fury, to sever the Iranian military's financial lifelines. We will relentlessly target the regime's ability to generate, move, an...