Bessent urges more disruption to Iran's financing, will review US sanctions list

U.S. Treasury Secretary Scott Bessent on Tuesday called on allies to more forcefully disrupt Iran's financing networks and said the Treasury would scrub its

sanctions list of outdated designations to make it easier for financial institutions to root out the most sophisticated terrorist financing schemes.



Bessent told an anti-terrorism financing conference after G7 finance leaders met in Paris that participants needed to "stand with us in full measure" against Iran.



"That will require, for example, our European partners to join the United States in taking action against Iran by designating its financiers, unmasking its shell and front companies, shuttering its bank branches, and dismantling its proxies," Bessent said. "It will require those of you in the Middle East and Asia to root out Iran's shadow banking networks."



Bessent told Reuters in an interview that Iranian bank branches in Europe were not taking deposits but "that branch manager is doing something. Just close it."



His comments came as the Treasury imposed fresh sanctions on Iran's shadow tanker fleet and an Iranian foreign currency exchange house and what called other front companies. s