US Treasury Secretary outlines strict sanctions targeting Iran’s digital assets, gold, and shipping sectors, pressuring oil markets.
Oil prices deepened losses Monday after US Treasury Secretary Bessent detailed new sanctions against Iran, calling them the toughest in history. The measures target digital assets, technology, gold, aviation, and shipping—key economic lifelines for Tehran.
The announcement follows earlier declines, with markets weighing the impact of restricted Iranian exports. Analysts note similar sanctions in 2018 cut Iran’s oil output by over 1 million barrels per day, though China’s potential exemption remains unclear.
Prices edged lower as traders assessed supply risks, with Brent crude down 0.8% and WTI falling 0.7% in early trading.