US Treasury vows economic pressure on Iran, dims hope for sanction relief

US Treasury Secretary Scott Bessent announced plans to use all economic tools against those backing Iran’s “terrorist activities,” following discussions with Britain’s finance minister. The market for Trump agreeing to Iranian oil sanction relief by April sits at 42.5% YES, up from 28% a week ago.

Bessent’s hardline stance is moving prediction markets. The US-Iran diplomatic meeting market shows increased skepticism, with odds for no meeting by June 30 rising slightly. The oil sanction relief market has ticked up recently, but Bessent’s statement points toward continued resistance to easing sanctions.

The diplomatic meeting market’s odds sit at 2.1% YES, with $104 in actual USDC traded daily. It takes just $408 to move the price 5 percentage points. The risk of no diplomatic breakthroughs remains low by market pricing, but the thin liquidity means sudden shifts could move odds fast.

The oil sanction relief market is thicker, trading $1,975 in actual USDC daily. The largest move in the past 24 hours was a 2-point drop as traders adjusted positions after Bessent’s comments. The market has enough liquidity to absorb small orders but remains sensitive to major policy shifts.

Bessent’s statement reinforces sustained economic pressure on Iran and works against any quick diplomatic resolution. A YES share for oil sanction relief at 42.5¢ pays $1 if it resolves, a 2.78x return. Betting on easing sanctions here requires believing Trump will make a rapid policy pivot, which is hard to square with Bessent’s public posture.

Watch for any shifts from Trump or the Treasury on sanctions policy. Key signals: backchannel talks or public statements hinting at softer terms. Without those, expect the odds for relief to stay compressed.

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