Bessent expands threat of secondary sanctions on Iran

Also on Monday, officials moved to sanction nearly 60 entities, including “a network of brokers, companies, and shadow fleet vessels” across the United Arab Emirates, Hong Kong, Singapore, Switzerland, Europe, and China that helps Iran sell oil, according to a press release. And it suspended general licenses that had authorized things like remittance payments to Iran.Monday’s announcement comes as Trump’s team intensifies its efforts to slow the climb of prices ahead of November, including by suspending tariffs on beef imports and ramping up buybacks of bonds. The latter has so far had little effect on borrowing costs, with yields climbing back up not long after last week’s announcement.“It’s very difficult unless you’re really willing to do something like commit the entire Fed’s balance s