U.S. President Donald Trump has instructed U.S. Secretary of the Treasury Scott Bessent to reassess the existing U.S. sanctions policy as it undermines the dollar's role as the world's reserve currency, according to Bessent.
"President Trump has instructed me to rethink the sanctions regime. For a long time, we had what I call 'lazy sanctions.' They would just sit there, we think that it threatened the dollar's reserve currency status as people moved out of the dollar," Scott Bessent said.
The U.S. Secretary of the Treasury stressed they are going for the maximum impact sanctions.
"It's a new sanctions regime. We come in, we hit them hard, we hit them fast, we hit them heavy. And that's what we are doing with Iran," Scott Bessent said.
