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Treasury Secretary Scott Bessent unveils new U.S. economic sanctions to isolate Iran
Developing
By Fatima Al-Kassab , Hadeel Al-Shalchi , Emily Feng , Michele Kelemen Treasury Secretary Scott Bessent speaks at a news conference at the Treasury Department in Washington, D.C., on Monday. When a reporter asked whether Chinese banks could be targeted by the administration's new measures, Bessent said, "We want to make clear here today that no one is above the reach of U.S. sanctions.
The Treasury is expanding its target areas for sanctions with critical sectors including digital assets, technology, gold aviation and shipping, it said in a statement announcing the sanctions. "The president is making phone calls to world leaders with specific requests to cease their interactions with the regime," Bessent said.
The Treasury said it has mapped out "networks, facilitators and financial channels" that enable Iran. The statement said Monday's sanctions also target a "a network of brokers, companies, and shadow fleet vessels operating across the United Arab Emirates (UAE), Hong Kong, China, Singapore, Switzerland, Europe, and other regions to transport Iranian oil and channel revenue" to Iran's paramilitary Revolution Guard and other regime elements.
Iran's new security chief, Mohsen Rezaei, said in an interview on state TV over the weekend that Iran would retaliate in a "seismic manner" to Trump's latest attempt at economic warfare. Rezaei said Iran would retaliate by further targeting oil tankers that are transiting the Persian Gulf, warning that "not even a single drop of oil will leave the region.
"Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," he said. "Why would I want to blow up the global financial system?" he said.
What's confirmed
What's still developing
- By Fatima Al-Kassab , Hadeel Al-Shalchi , Emily Feng , Michele Kelemen Treasury Secretary Scott Bessent speaks at a news conference at the Treasury Department in Washington, D.C., on Monday.
- "Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," he said.
- The Treasury said it has mapped out "networks, facilitators and financial channels" that enable Iran.
- The Treasury is expanding its target areas for sanctions with critical sectors including digital assets, technology, gold aviation and shipping, it said in a statement announcing the sanctions.
- The statement said Monday's sanctions also target a "a network of brokers, companies, and shadow fleet vessels operating across the United Arab Emirates (UAE), Hong Kong, China, Singapore, Switzerland, Europe, and…
- "The president is making phone calls to world leaders with specific requests to cease their interactions with the regime," Bessent said.
- "Why would I want to blow up the global financial system?" he said.
- When a reporter asked whether Chinese banks could be targeted by the administration's new measures, Bessent said, "We want to make clear here today that no one is above the reach of U.S. sanctions.
Sources
- NPR — source text fetched for this pass link