Iran defiant as Bessent says US likely to announce bank sanctions this week
DUBAI/ASHEVILLE, North Carolina — U.S. Treasury Secretary Scott Bessent said on Tuesday Washington was likely to announce bank sanctions against Iran this week, stepping up an attempt to "economically asphyxiate" Iran's leadership after six months of conflict. Oil prices rose further after the first exchange of direct attacks since July and reports of two tankers being hit leaving the Strait of…
DUBAI/ASHEVILLE, North Carolina - U.S. Treasury Secretary Scott Bessent announced on Tuesday that Washington is likely to impose bank sanctions against Iran this week, intensifying efforts to economically isolate the country following six months of conflict. Oil prices surged as the first direct attacks since July and reports of two tankers being struck in the Strait of Hormuz, the critical oil supply route, threatened.
Despite this, Iran remained unyielding, threatening to prevent oil exports from the Gulf and warning that they would block access to the waterway. U.S. President Donald Trump also vowed to hit Iran hard in response to the renewed Iranian attacks, while Bessent revealed that the U.S. was preparing to enforce additional sanctions, with further measures expected in the coming week.
Bessent's comments came during a G20 finance leaders' meeting in Asheville, North Carolina, where he expressed gratitude for the support of allies in his efforts to confront Iran's defiance.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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