HomeNewsBusinessUS Treasury Claims Progress in Global Campaign to Isolate Iran

US Treasury Claims Progress in Global Campaign to Isolate Iran

WASHINGTON: US Treasury Secretary Scott Bessent said Saturday that Washington has sent teams around the world to pressure countries to economically isolate Iran.

Bessent said the effort had already produced results, pointing to new restrictions on Iranian airlines and banks.

“At my direction, teams were dispatched across the globe to engage with countries and demand action against the Iranian regime,” Bessent said on X.

He said Turkey and Oman had halted incoming flights by Iran’s Mahan Air. The United Arab Emirates has also stopped flights operated by Iranian airlines, according to Bessent.

Dubai is a major destination for Iranian carriers because of its large Iranian community and close commercial links with Iran.

Banking Restrictions Tightened

Bessent also highlighted new restrictions affecting Iranian banks.

On Wednesday, the UAE central bank blocked transactions to and from Iran involving branches of Bank Melli.

The UAE said the move was linked to alleged violations of laws concerning money laundering, terrorism financing and arms proliferation.

Turkey also revoked the licence of Bank Mellat last week. The semi-private Iranian bank has been under Western sanctions for years.

Bessent shared a Wall Street Journal report saying Jonathan Burke, the Treasury Department’s assistant secretary for terrorist financing, travelled across the Middle East and Europe for two weeks to press countries to join the US campaign.

The report said US Treasury officials have held discussions with more than 50 countries.

US Targets Iranian Airlines

Bessent said Monday that the United States intends to shut down Iranian airlines operating internationally.

However, some smaller Iranian carriers continue to operate international routes.

Several maintain connections with China, which has resisted US pressure to restrict its economic ties with Iran.

The latest measures form part of Washington’s broader campaign to increase economic pressure on Tehran through restrictions on aviation, banking and international financial transactions.

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