What sanctions could Trump impose as US vows ‘greatest financial offensive ever’ against Tehran

US Plans Additional Sanctions on Iranian Oil Exports as Ceasefire Ends

The United States intends to announce expanded sanctions measures against Iran on Monday, according to statements from Treasury Secretary Scott Bessent. Bessent described the planned actions in a Financial Times op-ed as the largest set of financial restrictions applied to any single adversary. The announcement is scheduled for approximately 7pm BST.

Iran’s rial reached a record low against the dollar on Monday following the public statements. Iranian officials have said they will respond with measures that could restrict oil shipments through the Strait of Hormuz if neighboring countries participate in the new restrictions. Foreign Minister Abbas Araghchi stated on social media that the planned steps constitute economic pressure that would harm global trade and would not alter Iranian policy.

The United States had suspended certain sanctions on Iranian oil sales during a 60-day ceasefire period that concluded the previous Monday. Those measures were reinstated after talks over access to the Strait of Hormuz ended without agreement. Successive US administrations have maintained sanctions on Iran since the early 2000s, citing the country’s nuclear enrichment activities, ballistic missile development, and human rights record. The International Atomic Energy Agency has documented Iranian uranium enrichment levels above the limits set in the 2015 nuclear agreement. Additional maritime restrictions and energy-related designations were introduced after the most recent round of hostilities began.

Bessent is expected to outline steps that could include stricter enforcement of existing prohibitions on third-country purchases of Iranian crude. Energy and sanctions analyst Neil Quilliam of Chatham House said the most probable immediate action would involve increased scrutiny of companies, banks, insurers, and shippers that handle Iranian oil cargoes. Such steps would raise the cost and legal risk for entities outside the United States that continue to trade with Iran.

Iranian state media reported that the country earned $7.5 billion from oil sales in the first four months of the year, a figure 1.5 times higher than the same period in the prior year. The report, carried by the Fars news agency, could not be independently confirmed. Iranian authorities have used ship-to-ship transfers, re-flagging of vessels, and alternative storage methods to maintain export volumes despite prior restrictions.

Quilliam noted that additional designations alone have not historically halted Iranian exports because alternative commercial networks have been developed over time. He added that sustained pressure would require measurable reductions in actual purchases rather than only restrictions on supply routes.

China accounts for the large majority of Iranian oil imports. Chinese foreign ministry statements have indicated that Beijing will take steps to safeguard its commercial interests. The United States has previously designated multiple Chinese entities for purchasing Iranian crude in violation of existing sanctions. Any new secondary measures would therefore apply to transactions that already fall outside current US rules.

Iran has offered price discounts to maintain Chinese buyers. Quilliam stated that the practical effect of new sanctions would depend on whether enforcement reaches major purchasers and financial intermediaries in China, as well as transshipment points in Iraq, the United Arab Emirates, Malaysia, Pakistan, and Türkiye. The UAE announced on Tuesday that it had severed certain financial links previously used for Iranian transactions.

Trump has previously issued public warnings on trade and security issues that were not fully implemented. Secondary sanctions provisions have faced legal challenges, including Supreme Court review. Legislation passed by the Senate earlier this month combines Russia-related measures with new Iran provisions and would grant additional tariff authority if approved by the House. House consideration remains uncertain because of bipartisan questions about the scope of the proposed powers.

Bessent said the administration intends to apply restrictions not previously used. Implementation of complex sanctions targeting multiple jurisdictions and commercial networks typically requires months, and immediate effects on export volumes have been limited in past rounds.

Iran’s nuclear program has been subject to international monitoring since the 2000s. Enrichment has continued at levels documented by the IAEA as exceeding agreed thresholds. Successive sanctions regimes have targeted central bank access, petrochemical sales, and shipping insurance. Iranian officials have maintained that the program serves civilian energy and medical purposes.

The naval restrictions now in place limit the number of tankers able to load at Iranian terminals. Combined with existing designations, these measures have reduced but not eliminated Iranian crude shipments. Revenue figures reported by Iranian agencies reflect sales completed through the remaining channels.

Quilliam said that enforcement focused solely on Iranian entities would likely produce incremental rather than decisive results given the established evasion practices. Sustained impact would require coordinated action affecting both supply and demand sides of the trade.

The article continues with further details on specific designation lists expected Monday, historical enforcement data from the Office of Foreign Assets Control, and statements from additional regional governments regarding compliance with any new measures.