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Washington: The US will utilise next week's G20 finance gathering to pressure big economies to terminate remaining economic and financial ties with Iran, as Washington steps up its sanctions campaign against Tehran.
US Treasury Secretary Scott Bessent is likely to urge G20 finance ministers and central bank governors to abide by Washington's Iran sanctions. The United States has warned countries that continue to do business with Iran that they may face secondary penalties and lose access to the dollar-based Western banking system.
The gathering in Asheville, North Carolina will also address global growth, trade imbalances, sovereign debt, and resilient energy supply chains. Given its close economic and oil-trading ties with Iran, China is likely to play an important role.
The move comes with ongoing tensions in the Middle East and the Trump administration's efforts to economically isolate Iran in light of recent restrictions against dozens of Iran-affiliated organisations.
