US to Sanction Another Bank Over Iran Ties, Treasury Chief Says
Treasury Secretary Bessent says the US will sanction another bank this week to curb Iran transactions, urging G20 partners to join the economic isolation.
The Trump administration is set to impose sanctions on another bank this week as part of its push to choke off financial transactions linked to Iran, Treasury Secretary Scott Bessent said on Sunday.
Speaking ahead of the Group of 20 meetings in Asheville, North Carolina, Bessent said he would hold one-on-one talks with finance ministers from major and developing economies to press them to join the US-led effort to isolate Iran economically.
"This is going to be financial violence if we have to," Bessent said in an interview. "We are showing people that we know who you are, you know who you are, and this has got to stop."
The remarks come days after Bessent announced a broader campaign targeting countries that continue to do business with Iran, which is already under heavy US sanctions. The new measures aim to force those nations to sever remaining financial links or face retaliation from Washington.
The latest bank sanctions are expected to be announced within days, adding to a series of actions designed to cut off revenue streams to the Islamic Republic.