Scott Bessent Lowers the Boom on Iran with Another Strong Sanctions Move [WATCH]

Treasury Secretary Scott Bessent said the Trump administration is sharply increasing economic pressure on Iran through expanded sanctions authorities targeting aviation, maritime activity, cryptocurrency, gold and international financial institutions accused of helping Tehran move money around the world.

During an exchange with CNBC’s Joe Kernan, Bessent said Treasury had recently received additional authorities that are now being used against the Iranian government.

“I will tell you that we are pressuring them like never before and Treasury’s sanctions authorities were really emboldened after 9/11 and that’s when we were given many of the authorities that we have now,” Bessent said.

He added that Treasury had received five new authorities roughly a month earlier.

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“We got five new authorities about a month ago that we’ve implemented against the Iranian regime, including on aviation, maritime, crypto, gold,” Bessent said.

One of the administration’s most aggressive new measures is aimed at preventing Iranian commercial airlines from operating internationally beginning September 23.

“On September 23rd, all the Iranian airlines, all the Iranian airlines will be shut down around the world,” Bessent said.

Bessent explained that the strategy relies on secondary sanctions and access to the U.S. financial system.

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Airports, fuel suppliers, ticket sellers and other service providers that continue assisting Iranian carriers could risk being excluded from dollar-based transactions.

Reporting Monday confirmed that the administration is warning foreign companies against providing fuel, landing services or ticketing assistance to Iranian airlines.

“And how do we do that? That if they land, you cannot provide them with fuel, you cannot provide them with landing services, you cannot sell them tickets or you will be knocked out of the dollar system,” Bessent said.

The Treasury secretary said the administration is also targeting financial intermediaries that it believes have helped Iran evade sanctions.

“And what we’re seeing here, Joe is we’ve seen enablers throughout the world. We know who they are, they know who they are, and we are putting a stop to it,” Bessent said.

He then pointed to banks in Egypt, Turkey and Russia that he said had facilitated transactions benefiting Iran.

“So, we’ve had now three banks that we have sanctioned: the second-largest bank in Egypt, the Dubai branch funneled more than $1.8 billion into the regime; they will be closed down; about the 30th largest Turkish bank, same thing, they will be closed down; second largest Russian bank, their external branches doing the same thing, those branches are being closed,” Bessent said.

The administration has already sanctioned Turkey’s Golden Global Yatirim Bankasi, accusing it of helping move Iranian oil revenue and convert funds into cash and gold.

The action is part of a broader campaign designed to disrupt Tehran’s access to international finance.

Kernan then pressed Bessent on China, which remains an important part of Washington’s effort to restrict Iran’s financial and commercial networks.

“But nothing in China, and did you talk about that?” Kernan asked.

Bessent said the issue had been discussed, but indicated that the administration prefers private diplomacy in some cases rather than public confrontation.

“We did. And with many countries, having quiet behind-the-scenes discussions are better than having a public display,” Bessent said.

Bessent has recently met with senior Chinese officials as Washington raises concerns about financial ties between China and Iran.

Reuters reported that Iran and China were among the subjects Bessent planned to address in discussions with his Chinese counterpart, while more recent talks have included broader trade and security concerns.

The latest measures represent an expansion of Treasury’s campaign against Iran beyond conventional banking sanctions.

Earlier this month, Bessent said the administration was examining airlines, maritime companies and digital assets as possible targets as part of its effort to cut Tehran off from international commerce.

Bessent’s comments make clear that the administration is increasingly relying on access to the dollar system as leverage against companies and governments that continue providing financial or logistical support to Iran.

The strategy is designed not only to sanction Iranian entities directly, but also to force foreign businesses to choose between maintaining relationships with Tehran and retaining access to the U.S. financial system.

For Bessent, that pressure campaign is already moving into a more aggressive phase.

“We know who they are, they know who they are, and we are putting a stop to it,” he said.

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