Treasury Secretary Steven Mnuchin announced a new round of sanctions against Iran on Monday, urging countries conducting business with the Islamic Republic to sever those financial ties or face potential U.S. retaliation. President Donald Trump's previous threat last week to launch an "economic D-Day" against Tehran now translates into increased pressure for nations to isolate Iran from the global economy. When asked why secondary sanctions were not being imposed on Iran's trading partners, Mnuchin stated that he wanted countries to have time to disengage from Iran before it was too late. "Why would I want to destabilize the global financial system?" Mnuchin said. As the U.S. continues its six-month-long conflict with an increasingly obstinate Iran, U.S. officials seem to be shifting their strategy from military action to economic warfare. However, Defense Secretary Pete Hegseth did not rule out resuming strikes against Iran during lulls in hostilities. The new sanctions are intended to further strain Iran's already battered economy, but details regarding which countries could face secondary sanctions were scarce. China, Turkey, and the United Arab Emirates are Iran's largest trade partners. Mnuchin stated that the U.S. is engaging in a campaign dubbed "Operation Economic Outcast," with Trump reportedly making phone calls to world leaders to cease interactions with Iran. The UAE recently announced a suspension of all trade, commercial exchanges, and financial transactions with Iran following a reported missile attack on the Gulf country, a decision Mnuchin described as not coincidental. Meanwhile, Iranian parliamentary Speaker Mohammad Bagher Qalibaf asserted that the U.S. is not in a position to restrict Tehran's relations with other countries. Experts suggest that the extent to which the announcement impacts various nations depends on the aggressiveness with which President Trump chooses to enforce the sanctions. The Treasury Department announced that it would impose sanctions on nearly 60 Iran-linked entities, accusing them of roles in Iran's nuclear and missile programs, cyber activities, and oil shipments. This includes Hong Kong-based Sweet Ocean Industrial Limited, China-based Shenzhen Huamei, and BRE Line's branch in Hong Kong for allegedly supporting Iran's missile and nuclear programs. The announcement comes as Iran's currency, the rial, reached a record low of 2.02 million to the U.S. dollar, with daily staples becoming increasingly unaffordable for Iranians amid double-digit inflation and negative growth. Despite economic pressure, Iran maintains strategic advantages, particularly through attacks and threats on ships in the Strait of Hormuz.