Bessent Says Iran, Falling Behind in Economic Warfare, Turns to Military Attacks... EU Also Joins U.S. Sanctions

[Financial News, New York = Reporter Lee Byung-chul]U.S. Treasury Secretary Scott Bessent said Iran's recent military offensives are a sign that U.S. economic sanctions are working. The European Union has also formally joined Washington's economic pressure campaign against Iran, expanding the U.S.-led "campaign of economic isolation" into broader international cooperation.
Speaking to reporters at the G20 Finance Ministers and Central Bank Governors Meeting in Asheville, North Carolina, on the 31st local time, Bessent said, "Iran is taking U.S. sanctions very seriously." He added that Iran's recent aggressive rhetoric and military actions suggest that "because it is losing economically, it is turning to military attacks."
The United States plans to add new secondary sanctions every week, targeting not only Iran but also financial institutions and companies in third countries that do business with Tehran. Bessent said banks are the initial focus, and warned that if necessary, those institutions could be completely cut off from the dollar-based financial system. He had earlier pressed the point, saying, "There can be no leaks," and "You are either with us or with Iran."
The European Union also backed the U.S. pressure campaign. The EU said in a statement that it supports additional economic pressure on Iran, including the U.S.-led "campaign of economic expulsion." Bessent welcomed the move, saying the EU had "made its support clear in the strongest possible terms."




[email protected] Reporter Lee Byung-chul Reporter