U.S. Treasury Secretary Scott Bessent strongly urged the Group of Seven (G7) nations and other international allies to forcefully disrupt Iran’s global financing networks, emphasizing that a unified front is crucial to dismantling Tehran’s “war machine.”  As they all should.

     While speaking at an anti-terrorism financing conference following a summit of G7 finance ministers and central bank governors in Paris, Bessent issued a call to action, demanding that global partners fully align with Washington’s economic measures.   “Crushing the threat of terrorism compels all of you to step up and join us,” Bessent said in a speech to the “No Money for Terror” conference in Paris. “We are reviewing outdated and obsolete designations to help financial institutions focus on the most sophisticated terrorist financing and sanctions evasion schemes … Sanctions should not linger so long that their intended effects create unintended consequences. The most effective actions are aggressive and targeted, with defined timelines to drive specific effects.”

     The appeal comes amid a volatile period for international markets, which are grappling with a sharp bond market selloff and rising inflation fears triggered by energy supply disruptions. During his remarks, Bessent explicitly pressured European and regional counterparts to transition from rhetorical support to concrete financial warfare.  He stated that true solidarity would require European nations to systematically target Iranian financiers, unmask widespread shell and front companies, shutter active bank branches and disrupt funding lines to regional proxies.

“That will require, for example, our European partners to join the United States in taking action against Iran by designating its financiers, unmasking its shell and front companies, shuttering its bank branches, and dismantling its proxies.”  “In short, if you share our fury about Iran’s destabilizing agenda, terrorists seeking to hold the global economy hostage, drug cartels poisoning our communities, and threats to innocent lives, then now is the time to join the United States in moving aggressively,” he continued.