Bessent to unveil new US economic pressure measures on Iran

• US Treasury Secretary Scott Bessent is expected to announce expanded secondary sanctions targeting entities and countries doing business with Iran.
• Washington is warning that companies and financial institutions that continue dealings with Tehran could risk losing access to the dollar-based financial system.

US Treasury Secretary Scott Bessent is set to announce further details Monday on Washington’s expanding economic pressure campaign against Iran, according to a source familiar with the plans cited by Reuters.

Bessent is expected to outline broader measures targeting companies, financial institutions and countries that continue conducting business with Tehran. The measures are part of the Trump administration’s effort to intensify economic pressure on Iran and restrict its access to international markets.

According to the Reuters source, Bessent will warn that countries and entities that fail to align with Washington’s measures could face serious financial consequences, including restrictions on access to the dollar-based financial system.

The Treasury is expected to expand the use of secondary sanctions, which can target third-country companies and entities that maintain business ties with Iran even when they are not directly under US jurisdiction.

Bessent said last week that Washington would impose what he described as the "toughest sanctions in history" on Iran and called on China to cooperate with the US campaign. Trump has also warned countries supporting Iran that they could face economic consequences.

The planned measures come as Washington seeks to tighten restrictions on Iran’s oil exports and financial channels used to bypass existing sanctions.

Reuters reported that the expanded sanctions could cover additional Iran-related activities conducted through third countries, while Washington is also expected to provide more details on networks involved in sanctions evasion and oil smuggling.

Iran has rejected the US pressure campaign and warned that new sanctions will fail. Tehran has also criticized countries cooperating with Washington’s measures, as the two sides remain locked in a broader confrontation over Iran’s economy and access to global trade.

Bessent is scheduled to hold his press conference at the US Treasury Department on Monday, where he is expected to provide further details of the administration’s economic strategy toward Iran.