G20: Washington Aims to Rally Partners Behind Its Strategy Against Iran

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The United States intends to place Iran at the center of its discussions with major global economic powers. As a G20 meeting approaches in Asheville, North Carolina, U.S. Treasury Secretary Scott Bessent is expected to engage in multiple exchanges with his counterparts to strengthen international pressure on Tehran.

This meeting, set to bring together finance ministers and central bank officials from major economies on Monday and Tuesday, occurs amid heightened trade and geopolitical tensions. Washington aims to convince its partners to support its strategy targeting countries that continue economic exchanges with Iran.

Scott Bessent Expected to Lead Economic Pressure

The U.S. Treasury has recently hardened its rhetoric towards Iran's trading partners. Scott Bessent has warned countries maintaining economic relations with Tehran that they could face measures affecting their access to the Western financial system.

China, a G20 member and a significant buyer of Iranian oil, has already shown its determination to defend its interests. This divergence illustrates the difficulties Washington may face in achieving a united front among major economic powers.

In Asheville, the Treasury Secretary is expected to make the Iranian issue one of the main themes of his bilateral discussions, in a context where the United States seeks to increase the use of economic and financial instruments in its international policy.

A Tense G20 Presidency

The U.S. presidency of the G20 opens in an atmosphere marked by disputes with several partners. Trade tensions, particularly with Canada, complicate the search for a common position among major Western economies.

For several observers, this fragmentation could limit the United States' ability to unite G20 members around sensitive issues, whether concerning Iran, international trade, or global financial stability.

However, the U.S. administration aims to refocus the group's work on economic issues. Donald Trump advocates an approach prioritizing growth, trade imbalances, and financial matters, at the expense of major social and climate issues that have marked several previous summits.

Economic Issues at the Center of Discussions

The Asheville meeting also comes at a time when markets are closely monitoring the direction of the U.S. administration. Scott Bessent recently drew investors' attention by discussing a market intervention aimed at reducing the federal government's long-term borrowing costs.

The U.S. public debt, which has surpassed $40 trillion, represents one of the major economic challenges facing Washington.

Created in the wake of the Asian financial crises of the late 1990s, the G20 brings together 19 countries along with the European Union and the African Union. Its role is to promote coordination among the major economies on significant global financial and economic issues.

This year, the political configuration of the group is also evolving. The United States has excluded South Africa from meetings under its presidency, while Poland has been invited to participate in the discussions. Russia, engaged in the war against Ukraine since 2022, is expected to be represented by an envoy from its Ministry of Foreign Affairs.

The series of meetings is set to culminate in a summit of heads of state scheduled for mid-December in Florida. By then, Washington will need to reconcile its ambition to redirect the G20's work towards its economic and trade priorities with the necessity of maintaining a minimum level of dialogue among partners whose interests are diverging increasingly.