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U.S. Treasury Secretary Bessent: will call on G7 to follow sanctions regime on Iran - Finance news and analysis from Global Banking & Finance Review
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U.S. Treasury Secretary Bessent: will call on G7 to follow sanctions regime on Iran

Published by Global Banking & Finance Review

Posted on May 18, 2026

1 min read

· Last updated: May 18, 2026

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U.S. Treasury Secretary Calls on G7 to Support Iran Sanctions Regime

G7 Finance Ministers Urged to Enforce Sanctions Against Iran

U.S. Treasury Secretary's Statement

PARIS, May 18 (Reuters) - United States Treasury Secretary Scott Bessent said on Monday that he would call on G7 finance ministers to follow a sanctions regime in order to keep financing away from what Bessent described as Iran's "war machine".

Recent Diplomatic Efforts

U.S. Delegation's Visit to China

Bessent added that last week's trip by a U.S. delegation to China, led by President Donald Trump, was "very successful."

Reporting and Editing Credits

(Reporting by David Lawder;Editing by Sudip Kar-Gupta)

Key Takeaways

  • Bessent urged G7 unity in enforcing sanctions to restrict Iran’s access to financing and military resources.
  • He highlighted the success of a recent U.S. delegation visit to China—led by President Trump—as a boost to diplomatic and economic efforts.
  • This call comes amid broader U.S. strategies to pressure Iran, including sanction waivers reversals and efforts to leverage oil supply controls amid the Iran war.

Frequently Asked Questions

What did U.S. Treasury Secretary Scott Bessent urge the G7 to do?
He urged G7 finance ministers to follow a sanctions regime to prevent financing of Iran's 'war machine'.
What was the main purpose of Bessent's statement?
The main purpose was to encourage a unified G7 stance on enforcing financial sanctions against Iran.
What did Bessent say about the recent U.S. delegation trip to China?
Bessent described the U.S. delegation's trip to China, led by President Trump, as 'very successful.'
Where did Scott Bessent make his statement?
Scott Bessent made his statement in Paris.
Who reported and edited the information in the article?
It was reported by David Lawder and edited by Sudip Kar-Gupta.

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