Breaking
US Treasury Said to Ready Broader Iran Secondary Sanctions, Threatening Dollar Access
Summary
- The US Treasury Department is preparing an expansion of secondary sanctions targeting countries and companies that trade with Iran.
- The plan would intensify pressure by restricting access to the dollar-based financial system if trade with Iran continues.
- The Trump administration is referring to the pressure campaign against Iran as 'Economic D-Day'.
The US Treasury Department is preparing to broaden secondary sanctions targeting countries and companies that do business with Iran, according to overseas economic news alert service Walter Bloomberg. The plan would intensify pressure by restricting access to the dollar-based financial system for those that continue trading with Tehran.
The expanded measures are intended to force Iran's trading partners and businesses to either halt commerce with Tehran or risk losing access to the dollar-based financial system.
Treasury Secretary Scott Bessent is scheduled to unveil detailed sanctions measures at 1 p.m. Eastern on August 24, or 2 a.m. Korea time on August 25. The Trump administration is referring to the pressure campaign against Iran as "Economic D-Day," the report said.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.