US Treasury chief claims success in isolating Iran
Scott Bessent hails recent restrictions targeting the country's airlines and banks.
US Treasury Secretary Scott Bessent has announced that he has been in talks with over 50 nations to economically isolate Iran. On Saturday, Bessent announced new restrictions targeting Iran's airlines and banks, claiming these efforts are yielding results. Turkey and Oman have ceased incoming flights from the private carrier Mahan Air, while the UAE has halted all flights by Iranian airlines.
Dubai, a major commercial hub for Iran, is a hub for multiple daily flights, housing a significant Iranian community and having close business ties. The UAE central bank recently blocked transactions to and from Iran by branches of Iran's Bank Melli, accusing it of money laundering, terrorism, and arms proliferation violations. Turkey also revoked the license of Iran's Bank Mellat, a financial entity subject to Western sanctions.
A Wall Street Journal article indicated that Treasury Assistant Secretary for Terrorist Financing, Jonathan Burke, traveled to the Middle East and Europe to push for the economic embargo on Tehran. Bessent stated that all Iranian airlines will be shut down globally, though smaller Iranian carriers continue operations, particularly to China which is resisting US pressure.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- US Treasury chief claims success in isolating Iran freemalaysiatoday.com
- US Treasury chief claims successes in isolating Iran hindustantimes.com
- US Treasury chief Bessent claims successes in isolating Iran channelnewsasia.com
