G20 finance ministers meet in North Carolina as US pushes tougher sanctions on Iran

G20 finance ministers and central bank governors assembled in Asheville, North Carolina, for a two-day meeting as the United States, under the Trump administration, prepared to amplify economic pressure on Iran after a fresh round of attacks. The European Union appealed for ongoing diplomatic negotiations and asked Iran to halt its destabilising conduct, including the blockage of the Strait of Hormuz that has driven oil prices higher.

Holding this year’s rotating presidency, the US Treasury skipped last year’s meeting, invited non-member Poland, and expects Treasury Secretary Scott Bessent to deliver a strong statement urging adherence to US sanctions for continued access to the dollar system. Brazil’s finance minister declined to attend, while a Russian delegate participated, prompting criticism from an unnamed European official. Parallel G7 finance talks are slated to occur on the margins, and media access to the summit remains tightly controlled by Treasury officials.