Doubts Over Immediate US Sanctions on Iran; Washington Fears Global Financial System Collapse

US Treasury Secretary Scott Bessent announced new sanctions on Monday against approximately 60 entities, individuals, and vessels linked to Iran. The move is part of a broader strategy by the Donald Trump administration to economically isolate the Islamic Republic. However, contrary to expectations raised by US officials regarding the start of "unprecedented economic warfare," Bessent refrained from immediately implementing secondary sanctions against countries that continue to trade with Tehran. Explaining this approach, Bessent stated that immediate implementation of such sanctions could "blow up the global financial system." He added that Washington is giving countries a chance to correct their behavior, but emphasized that the process will escalate rapidly. Meanwhile, Iranian officials, including Parliament Speaker Mohammad Bagher Ghalibaf and Minister of Economy Ali Madani-Zadeh, dismissed the sanctions, asserting that these measures would fail just as they have in the past. Reports suggest that Washington has not yet targeted Chinese financial institutions that assist Iran in bypassing sanctions, due to concerns over potential trade tensions with Beijing.