Treasury Secretary Scott Bessent said the Trump administration is ready to use "financial violence" against Iran and plans to sanction another bank this week as Washington intensifies efforts to isolate Tehran.
Bessent Threatens Tougher Financial Pressure
"This is going to be financial violence if we have to," Bessent told The Associated Press on Sunday ahead of Group of 20 meetings in Asheville, North Carolina. "We are showing people that we know who you are, you know who you are, and this has got to stop."
The threat marks the next phase of Operation Economic Outcast, the administration’s "Economic D-Day" campaign. Treasury launched the operation Aug. 24, sanctioning nearly 60 Iran-linked entities, individuals and vessels while expanding secondary sanctions across digital assets, technology, gold, aviation and shipping.
Bessent said Treasury expects new secondary sanctions weekly, beginning with banks tied to Iranian activity. Such measures can threaten foreign institutions with losing access to the U.S. dollar system if they continue facilitating transactions for Tehran.
