US Treasury Secretary Bessent says Iran's neighbours more transparent now on Iran banking; US has requested that IRGC funds and those of leadership be frozen

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US Treasury Secretary Bessent says Iran's neighbours more transparent now on Iran banking; US has requested that IRGC funds and those of leadership be frozen

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Context

The comments from US Treasury Secretary Bessent indicate a marked shift in US strategy toward Iran, emphasizing stronger enforcement of sanctions. This approach can heighten tensions in the region, particularly impacting oil markets as countries reconsider their dealings with Iranian oil. Expect volatility in commodity markets, especially WTI, as the situation evolves and secondary sanctions loom over buyers of Iranian oil.

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