Bessent Interview

Treasury Secretary Scott Bessent says the Trump administration plans to impose sanctions on another bank this week in effort to clamp down on Iran transactions. Bessent spoke with The Associated Press on Sunday ahead of Group of 20 meetings in Asheville, North Carolina, where he will huddle individually with his counterparts from the world’s major and developing economies to encourage participation in the economic isolation of Iran. He said in the interview that “This is going to be financial violence if we have to. We are showing people that we know who you are, you know who you are, and this has got to stop.”

U.S. Treasury Secretary Scott Bessent wants to rally the world's largest economies this week at a summit in Asheville, North Carolina. The G20 finance ministers are meeting at a time when the U.S. has disrupted the international order with aggressive tariffs and an unpopular war on Iran. Bessent said he wants to focus on economic growth and debt issues. However, the tensions with Iran and tariff policies will be major topics. Bessent wants to enlist support to isolate Iran. He said Tehran's economy could collapse in “weeks or months” but said that could be avoided if Iran's leadership bends to the pressure.