Treasury Secretary Bessent Presses G20 To Cut Iran Financial Ties Or Face Secondary Sanctions New Secondary Sanctions Every Week Starting With Banks EU Maintains Separate Sanctions Regime South Korea Prepares P-8 Aircraft EOD Team And Logistics Ship 150 Troops Would Be Required
The European Union formally joined the US-led sanctions campaign against Iran, while South Korea said it is weighing a military role to help reopen the Strait of Hormuz.
According to CNBC and The Express Tribune, Treasury Secretary Scott Bessent used the G20 summit on September 3 to press counterparts to cut financial ties with Tehran or face secondary sanctions, announcing new secondary measures each week beginning with banks, warning that institutions facilitating Iran-related transactions would be cut off entirely from the dollar-based financial system. “The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed,” Bessent said.
South Korea said Seoul could contribute to US security efforts in the Strait of Hormuz as long as its own military readiness is not compromised. Seoul notified Washington it was willing to dispatch a naval ship and maritime patrol aircraft and began preparations to seek parliamentary approval. Some 150 troops would be required to operate the ship and aircraft. The deployment, including a P-8 maritime patrol aircraft, an explosive ordnance disposal team and a logistics support ship, marks the first non-US naval commitment to Hormuz corridor security. Trump had ramped up pressure on Seoul over its lack of support for the war with Iran.
US Central Command said it has redirected 87 commercial vessels, disabled three and boarded two to ensure total compliance. Shipping through the Strait remained subdued, with Iran launching periodic strikes on vessels using the southern shipping lane near the Omani coast.
The EU’s Economic Outcast endorsement tightens the financial siege, but Iran’s Petroleum Ministry claims partial workarounds.
The financial noose is tightening. The Strait remains closed. And now Seoul is sending ships. Check out our previous coverage of the US-Iran war on The Trusted Times.
