US to push economic pressure on Iran at G20 finance talks

Treasury Secretary Scott Bessent will intensify efforts to isolate Iran economically as he hosts G20 counterparts in Asheville, North Carolina next week, according to a US official. The G20 finance ministers and central bank governors are set to convene for talks that mark the beginning of several key ministerial meetings this year, setting the stage for the G20 leaders' summit scheduled for December in Florida.

During the Asheville gathering, US officials will emphasize the importance of adhering to sanctions on Iran, intensifying pressure on Tehran amid the ongoing war in the Middle East. The official noted that Bessent will engage in direct discussions with counterparts during bilateral meetings, though the identities of these conversations remain undisclosed.

The G20, established in the aftermath of the 1997-1998 Asian financial crisis, aims to enhance global economic and financial stability. This year's G20 discussions are expected to focus on issues such as debt, trade, financial stability, and banking regulation. However, analysts anticipate a return to more traditional topics due to the recent escalation of US-China tensions and the ongoing US-Canada trade dispute.

As tensions rise, G20 members will grapple with the challenge of maintaining cohesion amidst growing concerns over US debt levels and strained diplomatic relations.