US Treasury Secretary Bessent Announces Weekly Sanctions on Iran

With the goal of increasing economic pressure on Iran, the US Treasury Department is preparing to announce new secondary sanctions targeting the banking sector every week.

Weekly Sanctions Strategy

US Treasury Secretary Scott Bessent stated in an interview with Reuters that new secondary sanctions targeting the Iranian economy are likely to be announced to the public every week.

It was noted that in the first phase of this strategy, banks will be directly targeted and institutions providing financial support to the regime will be warned.

Warning to Banks and Financial Institutions

Minister Bessent emphasized that it has been clearly communicated to banks that hosting Iranian currency and assisting the regime are unacceptable.

It was stated that the next step to be taken could be the complete disconnection of the relevant financial institutions from the dollar-based global financial system.

G20 Summit and International Message

Speaking ahead of the G20 finance leaders meeting, Bessent announced that he would directly convey this message to G20 finance ministers and central bank governors.

It was stated that international actors will face secondary sanctions if they do not sever their economic ties with Iran.