"Raisi's main challenge will be the economy. Eruption of protests will be inevitable if he fails to heal the nation's economic pain," said a government official.
Brent crude oil, a global benchmark for Russia's main export, was down 0.8pc at $66.11 a barrel, falling for a third straight day, which did not stop Russian stocks indexes from advancing.
Brent crude futures for June fell 33 cents, or 0.5pc, to $64.53 a barrel by 0206 GMT while U.S. West Texas Intermediate crude for May was at $61.20 a barrel, down 25 cents, or 0.4pc.
Biden also announced a freeze on $1 billion of "Burmese government funds held in the United States" that would prevent the generals from accessing those funds.
In a televised video conference address, Erdogan said the sanctions showed a hostile stance by the United States against its NATO ally, but that problems created by them would be overcome.