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Hosting G20 meeting, Bessent tries to rally allies on Iran as tariffs strain ties

Treasury Secretary Scott Bessent is meeting with finance ministers of the world's largest economies this week at a time when the United States has disrupted the international order with aggressive tariffs on major allies and an unpopular war on Iran.

U.S. plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells AP

"This is going to be financial violence if we have to," Bessent said in the interview. "We are showing people that we know who you are, you know who you are, and this has got to stop."

A look at the new U.S. sanctions on Iran and threats against its trading partners

25 August 2026 at 01:50
The U.S. launched what the Trump administration calls "Operation Economic Outcast" against Iran. It includes threats to increase sanctions on Iran's trading partners. The pressure comes as the administration indicates it is trying to avoid returning to war, but cannot overcome Iran's stranglehold over the Strait of Hormuz. Nick Schifrin discussed more with Miad Maleki.

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