U.S. Treasury Secretary Pushes Global Action Against Iran Financial Networks

U.S. Treasury Secretary Bessent urged European partners to intensify sanctions on Iran by blocking its financiers, shuttering bank branches, and exposing shell companies. He also called on countries in the Middle East and Asia to dismantle Iran’s shadow banking system.

The Treasury is reviewing sanctions lists to better focus on advanced evasion and terrorist financing schemes. Officials are also removing outdated designations that may create unintended effects.

Bessent stated that European partners are expected to support the effort by blocking Iran’s financiers, shuttering its bank branches, and unmasking its shell companies. The push comes as the Treasury seeks to close gaps in existing sanctions enforcement.