(Bloomberg) — Treasury Secretary Scott Bessent told officials from some of the world’s biggest banks that their help is a vital part of the Trump administration’s push to ratchet up economic pressure on Iran.
“Our strategy is clear: We will apply economic pressure to the maximum extent possible to disrupt the Iranian regime’s access to the financial resources that fuel its destabilizing activities,” Bessent said, according to a copy of his remarks seen by Bloomberg News. “This includes the billions of dollars each year that Iran generates via its oil sales.”
President Donald Trump has said he wants to squeeze Iran as part of an effort to get a new deal putting limits on its nuclear program. The previous deal, from which Trump withdrew in 2018, was the product of sanctions campaign by the US and its allies that saw several large banks pay hefty fines for failing to comply.
Iranian Foreign Minister Abbas Araghchi said Wednesday that his country is ready for “genuine negotiations, from a position of equality, and in an indirect manner” over its nuclear program with Trump’s administration, according to the ministry’s Telegram channel.
Araghchi said talks require a “constructive atmosphere” and “avoiding threats, intimidation, and extortion.”
Trump said last month that the situation with Iran was “down to final strokes” and suggested a deadline for striking a deal was rapidly approaching or military action would be taken.
“We have a situation with Iran that something’s going to happen very soon,” he said.
–With assistance from Saleha Mohsin.
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