U.S. Treasury Secretary Scott Bessent unveiled a sweeping set of economic sanctions targeting Iran’s energy, shipping, and financial sectors. The measures, announced at a press briefing in Washington, D.C., include secondary sanctions on foreign entities that facilitate Iranian oil exports, restrictions on Iran’s access to the SWIFT banking network, and a ban on the sale of advanced semiconductor technology to Iranian firms. Bessent emphasized that the sanctions are designed to “cut off the lifelines that enable Iran’s destabilizing activities” and will be coordinated with allies in Europe and the Middle East. The Treasury Department will issue detailed guidance to U.S. businesses within the next 48 hours.
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