Treasury Secretary Bessent Announces Iran Sanctions
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- Treasury Secretary Scott Bessent warned that the US is preparing to ramp up economic pain on Iran by levying secondary sanctions on financial institutions that do business with Tehran, calling it the “financial equivalent” of the bombing campaign.
- President Donald Trump said in an interview with Maria Bartiromo of Fox Business News that he thinks the war in Iran is “very close to over”.
- Congress did not vote to support the war, and lawmakers are increasingly questioning the war's timeline and cost.
- Lebanon and Israel held their first direct diplomatic talks in decades on Tuesday in Washington, following more than a month of war between Israel and the Iran-backed Hezbollah militant group, with U.S. Secretary of State Marco Rubio calling it a “historic opportunity”.
- Lebanon reports more than 2,000 deaths since the war with Iran-backed Hezbollah began, including 168 children.
Why it matters: The sanctions will choke Iran’s access to global finance, pressuring its economy while warning banks that continue dealings risk U.S. penalties, and the administration’s heightened economic leverage could shift the conflict’s dynamics as Trump signals an imminent end for regional stability.
