US to announce Iran bank sanctions

US Treasury Secretary Scott Bessent has announced economic sanctions on Iran’s financial institutions are imminent. Speaking at the G20 summit in North Carolina, his threat follows US President Donald Trump’s promise to “economically asphyxiate” Iran. “We are probably going to announce a bank sanction this week, and we will announce one the week after,” Mr Bessent said. Iran has replied by advising European countries to avoid what they called “falling into the trap of blindly following America’s unlawful orders”.