U.S. adds 60 Iran sanctions, Brent crude drops below $90 a barrel as markets brace for tighter economic pressure and potential ripple effects on global oil and equity markets, signaling a shift from military options to sustained financial isolation.
Treasury Secretary Scott Bessent announced Monday the addition of roughly 60 Iranian entities, individuals and vessels to the sanctions list, while traders noted a second consecutive decline in oil prices after the United States dropped threats of direct strikes and instead pursued broader economic measures.
The sanctions calmed oil markets, with prices falling more than three percent and Brent slipping under $90 a barrel, while the S&P 500 rose 0.3 percent and European equities gained, except for Paris, and German data showed stronger-than-expected second‑quarter growth.
The timeline for the new sanctions remains unspecified, and Iran's claim of discovering large new gas reserves adds uncertainty to the effectiveness of the economic pressure, while analysts note the measures are softer than expected and the United States has not identified additional countries to target.