US Treasury To Urge G20 To Cut Iran's Illicit Revenue Networks

US Treasury Secretary Scott Bessent is expected to urge G20 finance officials to strengthen efforts to disrupt financial and economic channels that Washington says generate revenue for Iran's government and the Islamic Revolutionary Guards Corps.

Bessent will raise the issue during a meeting of G20 finance ministers and central bank governors in Asheville, North Carolina, on August 31 and September 1.

The meeting will follow a gathering of G20 finance and central bank deputies in Asheville on August 29 and 30.

A Treasury official told reporters on August 27 that Iran-related sanctions and illicit financial activity would be discussed during every bilateral meeting Bessent holds with G20 counterparts.

The official said Bessent would raise specific Iran-related activities identified by the Treasury in individual countries and stress that Washington would remain "uncompromising" in its efforts to target what it considers sources of illicit Iranian revenue.

The United States is seeking greater coordination among G20 members as part of its broader campaign against Iran, known as Operation Economic Outcast.

Washington wants other countries to enforce US sanctions and assist in disrupting what Treasury officials describe as Iran's "financial criminal network".

The campaign is aimed at increasing pressure on Tehran by restricting the financial mechanisms that Washington says enable the Iranian government and the IRGC to generate and move money internationally.

The Treasury official said the United States had also held extensive discussions with countries across the Middle East in recent days.

Asked specifically about Washington's message to countries including Saudi Arabia, the official said responses had been receptive.

Treasury officials pointed to Bahrain, Japan and Britain as countries that had publicly expressed support for the administration's position on Operation Economic Outcast.

Washington intends to continue discussions with G20 members and other governments in an effort to build broader international backing for measures targeting Iran's financial networks.

However, the Treasury official did not indicate whether the final G20 communique would include specific language supporting the US campaign against Iran.

Instead, the official said the communique was expected to focus primarily on five broader areas: economic growth, public-private partnerships, global economic imbalances, sovereign debt and financial literacy.

The push comes as the Trump administration seeks to expand international cooperation around its sanctions policy and increase pressure on Iran by targeting the financial channels it says support Tehran and the IRGC.