Iran deal expires today, Trump threatens new economic sanctions

A memorandum of understanding aimed at ending the war between the US and Iran expires Monday, with no sign of extension. The agreement, signed in June after Pakistan-hosted talks, has been disputed by both sides, each accusing the other of violating its terms. Tehran has said it has not decided to restart negotiations.

US President Donald Trump has threatened to hit Iran hard economically. Treasury Secretary Scott Bessent said Washington would introduce measures against Tehran that have "never been seen" as soon as next week. Since the war began in February, the US has imposed maritime, energy and financial sanctions, and started a naval blockade.

Times Now reports options on the table include secondary sanctions on Chinese 'teapot' refineries and banks, expanding sanctions on Iranian networks, a land blockade requiring cooperation from Iran's neighbours, and a total trade embargo. Experts note that smaller refineries may be less vulnerable, a land blockade would be difficult to implement, and targeting larger Chinese banks could risk retaliation from Beijing.