Treasury Secretary Bessent: We will get on the other side of the Iran conflict

Treasury Secretary Scott Bessent said the U.S. is moving to sanction another bank to clamp down on Iran-related transactions as Washington seeks to tighten Iran’s access to the financial system. The remarks also framed the strategy around whether the U.S. can significantly constrain Iran “without China,” highlighting potential spillover and compliance risk for banks handling cross-border activity. Overall, the update is likely to modestly affect expectations around sanctions enforcement and related financial flows rather than immediate broad market pricing.