Washington DC, Aug. 24 -- US Treasury Secretary Scott Bessent on Monday (local time) warned that entities facilitating money laundering on behalf of Iran will be removed from the US dollar system, as Washington announced new sectoral sanctions targeting key areas of Iran's economy.

While addressing a press conference, Bessent said, "Any entity that facilitates money laundering on behalf of Iran will be removed from the US Dollar system. The clock just started ticking."

Bessent said US President Donald Trump was contacting world leaders and urging them to end interactions with the Iranian regime, adding that Washington was already seeing results.

"The President is making phone calls to world leaders with a specific request to cease thei...