Bessent: Europe should support sanctions against Iran and crack down on its financial network

Bessent from the US Treasury Department stated that European partners are expected to support sanctions against Iran by blocking its sponsors, closing its bank branches, and exposing its shell companies. She pointed out that some US sanctions designations are outdated and may have unintended consequences, and the US Treasury Department is reviewing the sanctions list so that financial institutions can focus more on complex terrorist financing and sanctions evasion schemes. She also emphasized that Middle Eastern and Asian countries need to eliminate Iran's shadow banking network.