US plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells AP
Bessent said the Treasury is preparing weekly secondary sanctions that could cut banks off from the U.S. dollar system.
- On Sunday, Treasury Secretary Scott Bessent announced the Trump administration plans to impose new sanctions on another bank this week to clamp down on Iran transactions.
- Bessent recently initiated a campaign demanding countries sever financial ties with Iran or face retaliation from the United States, vowing an "economic onslaught" against trading partners.
- China, which buys 90% of Iran's oil, issued a defiant warning to Washington regarding these measures, refusing to back down despite United States pressure.
- Despite United Arab Emirates promises to sever transactions last week, Iranian bank branches remain open in Dubai and commercial flights between Iran and Turkey continue.
- During Group meetings in Asheville, North Carolina, Bessent will meet individually with counterparts from major economies to encourage participation in the economic isolation of Iran.
97 Articles
97 Articles
United States Secretary of the Treasury Scott Biscint revealed plans to impose sanctions on another bank cooperating with Iran, as part of the economic and financial campaign against Tehran, at a time when reports of the United States Administration have been accused of hesitation against China.
Washington warns the international financial institutions of the implications of cooperation with Tehran.
The US intends to impose new secondary sanctions every week to increase economic pressure on Iran, stated US Treasury Minister Scott Bessent on Sunday.
US plans to sanction another bank in effort to clamp down on Iran transactions: Scott Bessent
US Treasury Secretary Scott Bessent said the Trump administration will impose sanctions on another bank this week as Washington intensifies efforts to economically isolate Iran. His warning came ahead of G20 meetings where he plans to seek cooperation, including from China, Iran’s biggest trading partner and oil buyer, on sanctions.
Banks likely first targets as US plans weekly Iran sanctions, Bessent to press G20 on Tehran ties
Washington would urge G20 finance ministers and central bank governors to cut economic ties with Iran, warning that institutions that continue facilitating Iranian funds could be cut off from the US dollar-based financial system.
Coverage Details
Bias Distribution
- 34% of the sources are Center, 34% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
