US sanctions on Iran hit global markets and energy prices

The United States announced new sanctions targeting Iran's aviation, digital assets, gold, technology, and shipping sectors, alongside a naval blockade, intensifying pressure on Tehran's economy and global energy markets. Treasury Secretary Scott Bessent described the measures as an "economic D-Day," targeting Iran's oil and gas revenue and exposing trade partners to secondary penalties. The sanctions include 60 specific individuals and vessels, with ships linked to Singapore, China, and Hong Kong among the targets. The measures have pushed US petrol prices to $4.09 per gallon, up from $2.98 in February, while gold rose 0.8 percent and Brent crude fell over 2 percent to $85.22 a barrel. Analysts note the sanctions may disproportionately affect ordinary Iranians.