US Warns Iran Business Partners
US Treasury Secretary Scott Bessent warned foreign banks and companies doing business with Iran that they could face US sanctions, as Washington sharply increased economic pressure on Tehran on Monday.
“No one is above the reach of US sanctions. That if they facilitate transactions and are part of the ecosystem that turns Iranian oil into money, into repression, they will be targeted.
We find that the best way to engage with countries is through quiet diplomacy, and we are level setting with every country to tell them our expectations. We know who they are. They know who they are,” Bessent said during a press briefing in Washington DC.
Bessent did not identify which governments or institutions had been given deadlines to change their dealings with Iran.
China Also Faces US Pressure
Asked specifically about possible penalties against Chinese institutions, he declined to give details, warning instead that every country and entity should be prepared for US action.
“No one is above this. We are going to hold everyone accountable, and this is economic asphyxiation of this regime.”
Bessent said US President Donald Trump had been speaking directly with world leaders, with the State Department and Treasury following up on those calls.
“If they do not respond, then you will see the ramifications of their actions,” Bessent noted, adding, “We do not have infinite patience here.”
Washington Targets Iran Network
The warning came as Washington launched Operation Economic Outcast on August 24, targeting more than 60 entities, individuals and vessels the US links to Iranian oil revenue, weapons procurement, cyber operations and other activities.
Washington is also threatening secondary sanctions against foreign companies and financial institutions that deal with Iran, with shipping, aviation, technology, gold, and digital assets among the sectors in its sights.
Iran rejected the campaign. Foreign Minister Abbas Araghchi described the renewed sanctions drive as a sign of US ‘desperation’, while security chief Mohsen Rezaei warned of an ‘earthquake-like’ response.
RSBN, via Viory.Video
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