United States Treasury Secretary Scott Bessent called today for a significant reinforcement of the international sanctions regime against Iran, urging global leaders to tighten the crackdown on illicit financing networks that sustain the Iranian military apparatus.
Upon his arrival at the G7 Finance Ministers’ meeting, which takes place in Paris, France, Bessent appealed to Washington’s allies and the wider international community to maintain strict coordination regarding sanctions. He emphasized that the primary goal is to combat the illicit financial flows fueling Iran’s military machine and ultimately redirect those resources toward the Iranian people.
The Treasury Secretary placed this security and economic issue at the very center of the two-day agenda, where G7 finance ministers from Germany, France, the United Kingdom, Italy, Canada, Japan, and the United States will also deliberate on the global economy, financial imbalances, critical minerals, and counter-terrorism financing.
During his brief opening address, Bessent highlighted that the G7 summit occurs at a highly critical juncture for the world economy. He also referenced his recent official visit to Beijing alongside U.S. President Donald Trump, describing the diplomatic mission to China as highly successful.
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Bessent noted that the state leaders spent significant time together discussing global geopolitics and international trade frameworks.
On the sidelines of the same ministerial summit, European Commissioner for Economy Valdis Dombrovskis echoed the call for international cooperation, delivering a three-pronged message to the delegation. Dombrovskis stressed the need to maintain strong sanctions pressure against Russia, bring a swift diplomatic resolution to the conflict in Iran, and enhance global coordination to correct persistent international economic imbalances.
