Reuters reported that U.S. Treasury Secretary Scott Bessent said the Treasury will likely announce new secondary sanctions every week to increase economic pressure on the Islamic Republic, and that banks will be the primary target of these actions.

Bessent said that after the United States’ action against the Egyptian bank “Banque Misr” in the United Arab Emirates due to financial ties with Tehran, the next step could be a complete cut-off of a financial institution’s access to the dollar-based financial system.

Ahead of a meeting of officials of the G20 financial track, the U.S. Treasury secretary said Washington will warn banks that keeping Iranian money and providing financial aid to the Islamic Republic is not acceptable, adding: “You will see many more instances of these actions every week.”

Bessent also said that at the G20 meeting, he will ask the finance ministers and central bank governors to cut their economic ties with Tehran and will warn that otherwise they may face U.S. secondary sanctions. These remarks are part of Washington’s new campaign to increase financial pressure on the Islamic Republic, alongside the continuation of the war.

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