Treasury Secretary Scott Bessent told reporters that “if Iranian money is sitting in your banks, we’re now willing to apply secondary sanctions.”
The US Treasury has written to two Chinese banks and told them that “if we can prove that there is Iranian money flowing through your accounts, then we are willing to put on secondary sanctions.”
The Treasury imposed sanctions on more than two dozen Iranian individuals, companies, and vessels on Wednesday. The Trump administration is applying “maximum pressure” on Iran to end its nuclear program and its support for militants throughout the Middle East.
Washington has also not renewed the 30-day waiver of sanctions on Iranian oil at sea, which Bessent said last month would allow millions of barrels to reach global markets and relieve the war’s pressure on global energy supplies. Nor has Washington renewed its waiver on Russian oil at sea and it has sent letters to countries identifying that their banks have allowed Iranian transactions and warning that those banks face punitive measures.
