Bessent urges G7 to join US effort against Iran’s finances
U.S. Treasury Secretary Scott Bessent on Tuesday called on G7 partners to support Washington’s efforts to target Iran’s financial networks, saying coordinated action was needed to cut off funding linked to terrorism, Qazinform News Agency correspondent reports.
Speaking at the “No Money for Terror” conference in Paris, Bessent said the United States was seeking broader international cooperation in tracing and disrupting financial channels that, according to Washington, help sustain terrorist activity and sanctions evasion.
He said the U.S. was updating its sanctions approach to make measures more focused and time-bound. Bessent described the policy as a shift toward “aggressive and targeted” sanctions designed to produce specific results while limiting unintended effects.
The Treasury Secretary also referred to Washington’s sanctions campaign against Iran as “Operation Economic Fury,” saying U.S. measures had affected oil revenue, financial flows, cryptocurrency assets, and shadow banking networks linked to Tehran.
According to Bessent, the U.S. has acted against revenue streams that Washington says support Iran’s weapons programs, nuclear activities, and allied groups in the region. He said the effort had disrupted tens of billions of dollars in projected oil revenue.
Bessent urged European partners and other G7 members to take similar steps, including designating financiers, identifying shell and front companies, closing bank branches, and targeting proxy networks.
He said countries concerned about terrorism, illicit finance, and threats to the global economy should join the United States in applying stronger financial pressure.
Earlier, Qazinform reported that U.S. President Donald Trump announced that a previously scheduled military attack on Iran would not proceed as planned.
