US Treasury Chief Met with Banks on Sanctions Policy on Iran

SEATTLE (Oil Monster): The U.S. Treasury Secretary Scott Bessent met with top officials of as many as 16 major global banks along with officials belonging to federal law enforcement agencies in Washington to outline the ongoing efforts by the country’s administration to impose sanctions on Iran, including its move to cut Iran’s oil exports, which is a major source of revenue for that country.

Bessent highlighted the efforts by the Donald Trump administration to apply economic pressure on Iran to the maximum extent possible, in a bid to block Iran’s financial resources, which he alleged, is being used by that country to support Hamas and other militant groups across the Middle East region.

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Iran makes billions of dollars annually from the sale of its oil, which it uses to support its deadly agenda and nuclear weapons development. He denied Iran's assertions that its nuclear program is for peaceful uses. The Trump administration has been applying as much pressure as possible to disrupt the income, including attempts to drive down that nation's oil sales to zero.

The United States has imposed sanctions on a Chinese "teapot" refinery that processes Iranian oil as well as vessels that transport the oil. Refineries owned by the Chinese national oil business have since ceased purchasing Iranian oil. Bessent added that it has also approved the purchase and refinement of Iranian crude oil by a minor refinery in Shandong and its official.