On the sidelines of the G20 summit in North Carolina on Tuesday, Treasury Secretary Scott Bessent teased that there would be more sanctions on banks that the Trump administration is alleging facilitate business with Iran as part of their economic pressure campaign on Iran.
When asked, Bessent said that the level of intensity of these sanctions will be the gamechanger in upping pressure on Iran’s economy.
“It’s something at this level of intensity, the Treasury now has five new authorities, and it is across digital assets. It is across aviation. It is across maritime, and we are flexing every day,” Bessent said.
“We are speaking to our allies here, who have all come forward, and we have had a great show of support, whether it’s from the EU, the ECB, the the UK, the UAE, the Bahrainians. So we have seen great support around the world, and we have zero tolerance,” Bessent later added.
Bessent added his plan to “economically asphyxiate this regime” to get them ready to a deal that President Donald Trump will approve of.
