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Oil slips after U.S. launches new Iran-linked sanctions push
The U.S. move adds sanctions covering about 60 Iran-linked entities, while deferring new secondary sanctions that could affect China.
Global oil prices edged lower on Monday as traders digested a U.S. Treasury action aimed at Iran, even as prices remained above the $90-a-barrel mark, according to MarketWatch.
MarketWatch reports that U.S. Treasury Secretary Scott Bessent announced “Operation Economic Outcast,” describing it as “an economic D-Day,” including new sanctions for about 60 Iran-linked entities.
The U.S. also signaled that other countries would be given time to reduce or shut down interactions with Iran’s regime, MarketWatch said, while Bessent defended the decision not to impose new secondary sanctions immediately.
MarketWatch noted that traders are focused on whether any future secondary sanctions would hit China, Iran’s biggest oil buyer, and whether Beijing would respond.