New Delhi, Aug. 24 -- The Trump administration on Monday (August 24) unveiled a major expansion of its economic pressure campaign against Iran, warning countries and companies that continue doing business with Tehran that they could face secondary sanctions and potentially lose access to the US dollar-based financial system.

US Treasury Secretary Scott Bessent described the move as an "economic D-Day" and said Washington was targeting Iran's financial connections around the world as the war with Tehran approaches its six-month mark.

"We are launching an economic onslaught against Iran's financial connections around the globe," Bessent said at a press conference. "Our objective is to sever every economic lifeline that sustains this tyran...