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🇮🇱 Israel /Elections & Politics

Bessent Expects New US Secondary Sanctions Against Iran Every Week

From Jerusalem Post · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources Ongoing story
  • Treasury Secretary Scott Bessent said the United States is likely to announce new secondary sanctions against Iran every week, initially focusing on banks.
  • He said Washington could cut institutions off from the dollar-based financial system and urged G20 officials to reduce economic ties with Iran.
  • The comments followed US penalties against United Arab Emirates branches of Egypt’s Banque Misr over alleged financial links to Iran.

US Treasury Secretary Scott Bessent said Washington plans to intensify economic pressure on Iran with a steady series of secondary sanctions, beginning with banks.

“You’re going to see a lot more of these every week,” Bessent told Reuters before a meeting of G20 finance leaders. He said the United States was starting with banks and warning them against holding Iranian funds or aiding the Iranian government.

You’re going to see a lot more of these every week.

— Scott BessentThe Treasury secretary said the United States was preparing a regular stream of new secondary sanctions.

The comments came after the Treasury Department imposed penalties on United Arab Emirates branches of Egypt’s Banque Misr on Friday over alleged financial links to Iran. Bessent said the next measure could cut an institution off entirely from the dollar-based financial system.

Bessent said he would press G20 finance ministers and central bank governors to sever economic ties with Iran or face secondary sanctions. The story remains developing.

We’re starting with the banks, and we’re telling the banks it’s not okay to have Iranian money and to aid the regime.

— Scott BessentBessent described the initial focus of the sanctions campaign against institutions linked to Iran.
About this summary

Originally published by Jerusalem Post in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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