Analyst on why the new Iran sanctions could backfire on the US dollar

The United States on Aug 24 unveiled an expansion of sanctions that it said would cut off Iran's economic lifeline but stopped short of the most punishing measures, instead putting the world on notice to cease doing business with the Islamic Republic. Treasury Secretary Scott Bessent said other countries would need to sever business ties with Iran or risk being forced out of the dollar-based financial system. Omar Rahman, a fellow at the Middle East Council on Global Affairs, tells CNA's Asia First tells CNA's Asia First that enforcing such sweeping secondary sanctions could carry significant consequences for Washington, particularly if they target major Iranian trading partners such as China and Turkiye. He adds that the measures could accelerate efforts to reduce reliance on the US dollar. Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia