US Plans New Pressure on Iran
The United States could announce new Iran bank sanctions this week as Washington increases economic pressure on Tehran.
US Treasury Secretary Scott Bessent said Tuesday that the administration will likely target a bank as part of its wider campaign against Iran.
“We are probably going to announce a bank sanction this week, and we will announce one the week after,” Bessent said.
He spoke during an event held alongside the Group of 20 finance leaders in Asheville, North Carolina.
Bessent also said the United States has received strong support from its allies. Washington has been discussing the next steps with several partner countries.
More Iranian Entities Could Face Sanctions
The Treasury secretary indicated that the campaign will not stop with banks.
US officials are also examining airline leasing companies and other businesses that have links to Iran’s Islamic Revolutionary Guard Corps.
“It could be anyone who does business with the IRGC,” Bessent said.
He added that US authorities are tracking the group’s financial assets around the world.
“We have zero tolerance. We are going to economically asphyxiate this regime,” Bessent said.
The comments suggest that Washington plans to broaden its financial campaign against Iranian institutions and businesses.
Bessent previously told Reuters that the Treasury could announce new secondary sanctions against Iran every week. Banks are expected to remain an early focus of the campaign.
Dollar System Could Face Further Restrictions
Bessent said Washington could eventually take stronger action against financial institutions involved with Iran.
One possible step would involve cutting an institution completely from the US dollar financial system.
Such restrictions could make it much harder for targeted banks to conduct international transactions.
Bessent also directed a warning at the IRGC over its overseas assets.
He claimed US authorities know where members of the organisation hold accounts and where they own expensive properties.
“We know the 100 million dollar houses you have around the world, and we are going to freeze those,” he said.
US Discusses Iran With China
Washington is also engaging with China on issues linked to Iran.
Bessent said the United States has held private discussions with Beijing about preventing Iran from obtaining a nuclear weapon.
The talks have also focused on maintaining freedom of navigation through the Strait of Hormuz.
The waterway remains a major route for global energy shipments. Any disruption could affect oil markets and economies around the world.
The expected Iran bank sanctions therefore form part of a much broader US strategy.
Further announcements in the coming weeks could reveal how far Washington intends to expand the campaign and which financial institutions or companies will face new restrictions.
