U.S. Treasury set to widen secondary sanctions targeting Iran and its partners

According to a Treasury insider, the United States will widen the scope of secondary sanctions against companies and states that maintain trade ties with Iran, a step intended to intensify economic pressure on Tehran. Scott Bessent is expected to announce the details at a 1 p.m. EDT press conference, framing the initiative as an "economic D-Day" that compels foreign actors to side with the U.S. or face exclusion from the dollar system.

The administration has already labeled its current Iran sanctions as the "toughest in history" and paired them with a naval blockade of Iranian ports to avoid further kinetic action. While the Treasury still issues licenses for humanitarian and cultural exchanges, the new policy could target any activity linked to Iranian sectors, even when conducted in third countries. Officials claim they have mapped Iran's oil-smuggling and evasion networks and will present this intelligence to nations aiding the evasion. Recent actions have included sanctions on Chinese "teapot" refineries and increased scrutiny of the shadow tanker fleet, though broader sanctions on Chinese banks have been held back pending the upcoming U.S.-China summit.