U.S. Treasury chief warns of more sanctions on banks dealing with Iran

U.S. Treasury Secretary Scott Bessent said the United States plans to impose additional sanctions this week on banks that conduct business with Iran.

Bessent made the remarks on the 30th local time ahead of a G20 finance ministers’ meeting in North Carolina. He also said the United States was discussing the issue with China.

The proposed measures would target financial institutions involved in transactions with Iran. Bessent warned that, if necessary, the action could amount to “financial violence.”