US vows to keep economic pressure on Iran as G20 finance talks begin

US Treasury Secretary Scott Bessent declared on Monday that the United States would persist in imposing economic pressure on Iran, stating that a turning point may be imminent as G20 finance leaders commenced discussions marred by conflict and trade disputes. Before participating in the G20 talks, Bessent informed reporters that the US would maintain exerting pressure, with a potential turning point occurring within weeks or months.

The campaign of US economic pressure on Iran, initiated by President Donald Trump's administration, aims to rally G20 partners to intensify sanctions during the meetings in Asheville, North Carolina, through Tuesday. The first exchange of attacks in a month was anticipated as leaders arrived at the Omni Grove Park Inn, a foggy mountainous compound.

The European Union called for ongoing diplomatic efforts to achieve a peace settlement, welcoming measures to prevent Iran from destabilizing the region and engaging in peace negotiations with sincerity, including through US-led economic pressure. French Finance Minister Roland Lescure indicated that officials would listen to US plans, with the US proposing additional sanctions.

The G20 consists of 19 nations, the EU, and the African Union, established following the 1997-1998 Asian financial crisis to enhance global economic and financial stability. Other topics under discussion include the US-Canada trade friction and potential impacts on unity within the Group of Seven advanced economies. A European official criticized Russia's presence at the G20 due to its ongoing war against Ukraine, while US officials included Poland as a non-permanent member and allowed Russian representation.

US priorities for the G20 include addressing global imbalances and sovereign debt challenges, with a focus on preventing policies that cause excess production in global markets.