Bessent expects new US secondary sanctions weekly, aiming to increase pressure on Iran

U.S. Treasury Secretary Scott Bessent anticipates the issuance of weekly secondary sanctions against Iran, aiming to intensify economic pressure on the nation, according to Reuters. Bessent's comments were made in an interview on Sunday, following the recent penalties imposed on the United Arab Emirates branches of Egypt's Banque Misr for alleged financial ties to Iran.

The Treasury Secretary stated that the upcoming step may involve severing an institution's connection to the dollar-based financial system. Bessent anticipates an increased frequency of such sanctions in the coming weeks, starting with banks, as he warns them against holding Iranian money and aiding the regime. He intends to convey this message to G20 finance ministers and central bank governors, urging them to cut economic ties with Iran or face secondary sanctions.