Bessent Anticipates Weekly U.S. Secondary Sanctions to Intensify Pressure on Iran

ASHEVILLE, North Carolina, Aug 30 (Reuters) - U.S. Treasury Secretary Scott Bessent indicated to Reuters on Sunday that the Treasury Department is expected to implement new secondary sanctions on a weekly basis, aimed at elevating economic pressure on Iran, with a primary focus on financial institutions. Following recent penalties imposed on the UAE branches of Egypt's Banque Misr for alleged financial connections to Iran, Bessent hinted that future measures may include complete exclusion of certain institutions from the dollar-based financial system. 'Expect to see many more of these sanctions weekly,' Bessent remarked as he prepared for a meeting of G20 finance leaders. He emphasized that banks must cease engaging with Iranian funds and assist the regime. Bessent aims to convey a clear message to G20 finance ministers and central bank governors about severing economic ties with Iran to avoid facing secondary sanctions.