Bessent's economic sanctions against Iran continue. The Trump administration imposed a new round of sanctions on Iran's aviation industry on Tuesday, targeting more than 20 commercial and private airlines in Iran as well as foreign freight service providers, aiming to further isolate Iran and cut off its remaining trade links. Despite Trump's promise on Monday that "when we win the war against Iran," oil prices would drop—projecting gasoline prices to fall below $2 per gallon—the market has yet to respond positively. On Tuesday, the Dow Jones index declined, while Brent crude oil prices are nearing $120 per barrel.
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