U.S. Treasury Secretary Scott Bessent called on allies to more forcefully disrupt Iran's financing networks and said the Treasury would scrub its sanctions list of outdated designations.
In remarks prepared for delivery at an anti-terrorism financing conference after G7 finance leaders met in Paris, Bessent said 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.
He added that sanctions left in place for too long could create unintended consequences, stressing that sanctions are meant to change behavior, not to punish populations.
