US threatens Iran with ‘financial violence’

Washington will roll out new secondary sanctions targeting Tehran’s partners every week, Treasury chief Scott Bessent has said The US is preparing to unleash “financial violence” against Iran by rolling out new secondary sanctions every week, with banks first in line, Treasury Secretary Scott Bessent has said. Foreign banks dealing with Iranian funds could ultimately be cut off from the dollar-based financial system.The renewed economic pressure comes as US and Iranian forces exchanged strikes for the first time since late July.On Sunday, Washington struck two Iranian rocket launchers on Larak Island near the Strait of Hormuz, claiming the Islamic Republic’s forces were preparing to fire rockets carrying sea mines into the waterway, which handles around 20% of global crude oil trade. Tehran said several soldiers and civilians were killed. Iran retaliated early on Monday, with the Islamic Revolutionary Guard Corps (IRGC) claiming “significant damage” to two US military bases in Jordan. Speaking to reporters on Sunday ahead of a G20 finance meeting in Asheville, North Carolina, Bessent said Washington plans to impose new secondary sanctions on Iran. “You’re going to see a lot more of...