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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.

Treasury Department blocks certain journalists from covering G20 meeting

31 August 2026 at 14:47
The New York Times said in a statement that denying American journalists access to an event in the U.S. is "not just another disturbing effort by the administration to undermine independent journalism, but a blatant attempt to evade public scrutiny."

Europe Protests as U.S. Invites Russian Minister to G20 Finance Meeting

The meeting, which China and Russia are attending, is focused on the ongoing economic shock from the war in Iran, which has driven up oil prices globally.

Β© Melissa S. Gerrits/Reuters

Treasury Secretary Scott Bessent and the Federal Reserve chairman, Kevin Warsh, in Asheville, N.C., before the summit. The International Monetary Fund has projected that global growth will slow this year and that inflation will rise.

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."

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