The U.S. Treasury is expected to announce on Aug. 24 a broader range of secondary sanctions against countries and entities conducting commercial dealings with Iran, including activities involving specified Iranian sectors. Treasury Secretary Bessent is scheduled to outline the measures at 2 p.m. U.S. Eastern time, or 2 a.m. Beijing time. The announcement could cause significant volatility in stock and cryptocurrency markets. Bessent has described the expected economic measures as an unprecedented financial offensive against hostile forces and said large-scale military action may no longer be necessary.