By David Lawder
ASHEVILLE, North Carolina, Aug 30 (Reuters) – The U.S. Treasury Department is likely to unveil weekly new secondary sanctions aimed at increasing economic pressure on Iran, with an initial focus on banks, U.S. Treasury Secretary Scott Bessent told Reuters on Sunday.
After imposing penalties on the United Arab Emirates branches of Egypt’s Banque Misr on Friday over alleged financial links to Iran, Bessent said in an interview that the next step may be cutting off an institution entirely from the dollar-based financial system.
