Bessent Urges Allies to Decide on Sanctions Against Iran
· World · BBC News, Reuters, LiveMint
Treasury Secretary Scott Bessent told US allies they must decide whether to support Washington's plan to "squash" the Iranian economy. He echoed President Trump's warning that countries giving a lifeline to Iran would face "tremendous economic consequences." Bessent said new sanctions would form the "greatest coordinated economic isolation in history" and that the Treasury would enforce penalties on those who continue business with Iran. He added that the pressure campaign should reduce the need for large‑scale kinetic action. Further details will be released in a press conference on 24 August.
Why it matters
US sanctions on Iran could lift restrictions on the global oil market, potentially raising prices for Indian importers and affecting India’s energy security.
Read the original report — BBC News
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.