U.S. Treasury Secretary to unveil extensive sanctions on Iran

Treasury Secretary Scott Bessent said he will hold a press conference on Monday to announce a new package of sanctions targeting Iran. He described the measures as the most extensive coordinated effort to isolate the country economically. Bessent told CNBC that the United States will press allies and other nations to stop all commercial activity with Iran, warning that the U.S. will use its full authority against those who do not comply. > "We are going to them and saying you are either with us or against us," he said. The announcement follows President Donald Trump's recent statement that the United States will launch the most severe economic operation against Iran and will impose penalties on any country that assists Tehran in evading sanctions. Iran’s Islamic Revolutionary Guard Corps dismissed the threats, saying the country can mitigate the impact and maintain economic ties with other states. Helima Croft, head of global commodity strategy at RBC Capital Markets, noted that Iran already faces a high level of sanctions and questioned whether additional pressure will alter Tehran’s behavior, adding that Iran retains the capability to disrupt shipping in the Strait of Hormuz and regional infrastructure.