Washington will roll out new secondary sanctions targeting Tehrans partners every week, Treasury chief Scott Bessent has saidThe US is preparing to unleash "financial violence" against Iran by rolling out new secondary sanctions every week, with banks first in line, Treasury Secretary Scott Bessent has said. Foreign banks dealing with Iranian funds could ultimately be cut off from the dollar-bas
US Plans Weekly Secondary Sanctions Against Iran's Financial Partners
The US plans to implement new secondary sanctions against Iran every week, targeting foreign banks that engage with Iranian funds, as stated by Treasury Secretary Scott Bessent. This move is part of a broader strategy described as 'financial violence' aimed at isolating Iran economically. The implications are significant for Iran's financial stability and international relations.
👥 Key Players
📰 What Happened
The U.S. plans to implement new secondary sanctions against foreign banks that engage with Iranian funds on a weekly basis, as stated by Treasury Secretary Scott Bessent. This initiative is part of a strategy to economically isolate Iran.
- The sanctions will target foreign banks dealing with Iranian funds.
- The U.S. describes this approach as 'financial violence' aimed at crippling Iran's economy.
💡 Why It Matters
📚 Background
The U.S. has a history of imposing sanctions on Iran to limit its nuclear ambitions and influence in the region. Secondary sanctions specifically target third-party entities that engage with sanctioned countries.
🏷️ Entities Mentioned
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