US Treasury to broaden scope of secondary sanctions on Iran, source says

The U.S. Treasury is expected to announce a broadening of secondary sanctions on Iran, potentially targeting any activity in certain Iranian sectors, even in third countries. This move aims to shut down remaining financial lifelines for Iran, including through banks and third countries that have facilitated transactions. The Treasury has reportedly mapped Iran's oil-smuggling and sanctions-evasion network and will present this information as a warning to countries helping Iran evade sanctions. This could disrupt crude supplies from the Middle East and impact relations with countries like China.