U.S. Treasury Secretary Scott Bessent announced the likely implementation of weekly secondary sanctions targeting Iran, aiming to escalate economic pressure. These sanctions will initially focus on financial institutions with alleged ties to Iran, following recent penalties imposed on UAE branches of Egypt’s Banque Misr. Bessent indicated potential for more severe measures, including completely cutting off institutions from access to the U.S. dollar-based financial system. The move signals a continued hardline stance by the U.S. government regarding Iran’s financial activities. Further targets are anticipated in the coming weeks, as the Treasury Department seeks to disrupt Iran’s economic networks. This strategy intends to further restrict Iran’s access to global financial markets and limit its economic capabilities. The announcements were made during an interview with Reuters on Sunday.