US Treasury Touts Success in Isolating Iran Economically
US Treasury Secretary Scott Bessent announced Saturday that his department's efforts to isolate Iran economically have borne fruit, citing several countries' recent actions against Iranian banking and aviation sectors.
Bessent said that under his direction, teams were sent around the world to engage with countries and demand action against the Iranian regime. As a result, Turkey, Oman, and the UAE suspended flights operated by Iran's private carrier, Mahan Air, while the UAE also banned all Iranian airlines from flying in and out of the country.
The Treasury Department also noted that regional regulators moved against Iranian financial institutions, with the Central Bank of the UAE announcing measures targeting local branches of Iran's Bank Melli due to 'violations related to anti-money laundering, combating the financing of terrorism, and countering the financing of proliferation.'
Bessent emphasized that any entity servicing Iranian aircraft risks total exclusion from the US dollar system.