Iran dismisses Trump's post of attack on key energy hub of Kharg
XLE•Bessent signals weekly sanctions as U.S. keeps pressure on Tehran
Sunday's return to hostilities followed weeks in which the Trump administration has stepped up efforts to punish Tehran and its business partners with costly economic sanctions, shifting away from military options.
More sanctions on Iran
U.S. Treasury Secretary Scott Bessent told Reuters on Sunday new secondary sanctions were likely to be unveiled weekly in the effort to pressure Iran, with an initial focus on banks.
"We're starting with the banks, and we're telling the banks it's not okay to have Iranian money and to aid the regime," Bessent said in an interview.
After imposing penalties on the United Arab Emirates branches of Egypt's Banque Misr on Friday over alleged financial links to Iran, Bessent said the next step may be cutting off an institution entirely from the dollar-based financial system.




