Iran live updates: Trump administration expands scope of secondary sanctions

A tanker was struck by an "unknown projectile" off the coast of Oman, according to UK Marine Trade Operations.

The projectile damaged the engine room, disabling the vessel, UKMTO said. All crew were reported safe, it said.

"Environmental impact is unknown at time of report," UKMTO said on social media. "Vessels are advised to transit with caution and report any suspicious activity to UKMTO. Authorities are investigating."

The State Department said it has concurrently sanctioned entities targeted under the Treasury Department's actions announced earlier Monday.

"Today, the Department of State is sanctioning numerous entities, individuals, and vessels to further expose individuals and entities that enabled strikes against U.S. forces and allies and to restrict the revenue that the Iranian regime uses to attack its neighbors, support terrorism abroad, brutally oppress its own people, and hold the global economy hostage," the State Department said in a press release.

The sanctions target entities that enable Iran's military procurements and cyber operations and engage in the "illicit trade of Iranian petroleum and petrochemical products," the State Department said.

The Treasury Department said Monday that the Trump administration is expanding "secondary sanctions exposure for those who continue doing business with the Iranian regime and will accelerate the pace of U.S. enforcement."

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U.S. Treasury unveils new sanctions on entities that do business with IranTreasury secretary Scott Bessent announced secondary sanctions on entities and countries that maintain business ties with Iran.

ABCNews.com

Treasury Secretary Scott Bessent said "the reason we are able to use secondary sanctions is because we do not take their use lightly -- so we believe that a warning shot and a level set of expectations is appropriate."

"Every country, every entity should know that they should be prepared to face U.S. sanctions," Bessent said in remarks on Monday. "And no one is above this -- we are going to hold everyone accountable. And this is the economic asphyxiation of this regime."

The Treasury Department said in a statement that "every country will be given a defined timeline to shut down the Iran-related activity we have identified," and if the country fails to act, "Treasury will act."

Bessent in a statement compared these actions with D-Day from WWII, saying, “in that same spirit, we are launching an economic onslaught against Iran’s financial connections around the globe.” Bessent said the goal is to “sever every economic lifeline” that sustains Iran.

-ABC News' Michelle Stoddart

The U.S. Treasury is expected to expand the scope of secondary sanctions it can impose on entities and countries that maintain business ties with Iran in an effort to ramp up economic pressure, a source familiar with the plans told ABC News.

The announcement is expected Monday afternoon. Reuters was first to report the news.

The source said the action is likely to reveal ‌additional categories of Iran-related conduct that would be subject to secondary sanctions in the future, making it easier to take action against those facilitating the transactions on behalf of the Iranian government.

A senior administration official said Treasury Secretary Scott Bessent is expected to warn that any remaining financial lifelines -- including through banks and third countries that have tolerated certain activity -- must be shut down.

The official said the Treasury Department has "mapped Iran's oil-smuggling and sanctions-evasion network" and plans to present this information to countries helping Iran evade the sanctions as a warning.

Mohammad Mokhber, a senior adviser to Iranian Supreme Leader Mojtaba Khamenei, says Iran's response to U.S. sanctions will be "more decisive than ever."

-ABC News’ Rachel Scott