ASHEVILLE, N.C.: President Donald Trump’s administration plans to impose sanctions on another bank this week as it intensified efforts to economically isolate Iran, US Treasury Secretary Scott Bessent told The Associated Press on Sunday.
“This is going to be financial violence if we have to,” Bessent said in the interview. “We are showing people that we know who you are, you know who you are, and this has got to stop.”
Bessent spoke with the AP ahead of Group of 20 meetings in Asheville, North Carolina, where he will meet individually with his counterparts from the world’s major and developing economies to encourage cooperation against Iran.
The Trump administration recently signaled that it would shift from military strikes to economic pressure during a war that recently reached the six-month mark, promising what it called an “economic D-Day” against a country that has already weathered decades of punishing sanctions.
However, hostilities between the US and Iran flared on Sunday. US forces struck Iranian rocket launchers on the Strait of Hormuz in their first military action in a month, breaking a lull in fighting. Iran vowed to retaliate for what it called a deadly attack.
