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Iran war news LIVE Updates: US to impose weekly secondary sanctions on Tehran? Bessent says, 'We're starting with banks'
Iran war news LIVE Updates: The US Treasury Department is likely to unveil weekly new secondary sanctions aimed at increasing economic pressure on Iran, with an initial focus on banks, US Treasury Secretary Scott Bessent said on Sunday.
GlobeSignal-AImedium certainty
- Why it matters
- Secondary sanctions restrict non-US entities from dealing with targeted Iranian banks, cutting Iran off from global financial systems and trade.
- Most affected
- Iranian banks and their foreign counterparties — Loss of access to international financial networks and dollar transactions.
- Likely next
- Whether the Treasury Department announces the first tranche of weekly sanctions and which specific institutions are targeted.
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