The U.S. Treasury Department is expected to roll out new weekly secondary sanctions aimed at increasing economic pressure on Iran, with an initial focus on banks, Treasury Secretary Scott Bessent says. Speaking ahead of a meeting of G20 finance officials in Asheville, North Carolina, Bessent says the U.S. will intensify enforcement on a recurring basis.
Several outlets report that this comes after recent U.S. penalties against UAE branches of Egypt’s Banque Misr over alleged links to Iran and related financial activity. Bessent says the next step could include cutting targeted institutions off from the dollar-based financial system, and he frames the approach as part of a broader effort to prevent “leakage.” He also indicates the U.S. will press G20 finance ministers and central bank governors to cut economic ties to Iran or face secondary sanctions.
While most coverage aligns on the “weekly” cadence and the bank-first focus, some reporting emphasizes that the latest action targets specific branches rather than the bank as a whole, and that affected entities may have opportunities to remedy the alleged issues through procedures set by U.S. authorities.
