By David Lawder
ASHEVILLE, North Carolina, Aug 30 (Reuters) — U.S. Treasury Secretary Scott Bessent outlined plans to introduce new secondary sanctions on a weekly basis, aiming to increase economic pressure on Iran with an initial focus on banks.
The move follows exhibit penalties on the United Arab Emirates branches of Egypt’s Banque Misr over alleged financial links to Iran, with Bessent hinting that future actions might involve cutting off institutions from the U.S. dollar system.
“You’re going to see a lot more of these every week,” Bessent said ahead of a Group of 20 finance leaders meeting, emphasizing that the target is banks aiding the regime.
Bessent intends to press G20 finance ministers and central bank governors to sever economic ties to Iran, warning of secondary sanctions in response.
(Reporting by David Lawder; Editing by Edmund Klamann)
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