Scott Bessent, hosting G20 summit, pushes Iran sanctions as war drags on economy

The U.S. is hosting leaders from the world’s largest economies as renewed fighting in Iran and tariffs on Canada strain global relations.

The United States announced sanctions on a Hong Kong company on Friday for allegedly helping launder funds for a sanctioned Iranian exchange house, the latest Chinese entity to be targeted as part of Washington’s expanded efforts to squeeze Iran’s financial sector. The development comes as Washington has in recent days

Treasury Secretary Scott Bessent announced Friday that he is working to cut off bank branches in the UAE from the U.S. financial system.