Bessent warns Iran airlines will be shut down globally by Wednesday

1 min read | Published on 22 Sept 2026, 10:04 AM |Updated on 22 Sept 2026, 10:04 AM

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Shraddha JScanX News Team

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Key Highlights

Iranian airlines face global shutdown by Wednesday per Bessent
Foreign firms aiding Iran risk exclusion from dollar system
Second largest Egyptian bank sanctioned for funneling $1.8 billion
U.S. targets Turkish and Russian banks for aiding Iran
27 Iranian airlines previously sanctioned under E.O. 13902

*this image is generated using AI for illustrative purposes only.

U.S. Treasury Secretary Scott Bessent stated that Iranian airlines will be shut down worldwide by Wednesday as the Trump administration escalates economic pressure on Tehran.

During an appearance on CNBC’s “Squawk Box” on Monday, Bessent said that if Iranian planes land, entities cannot provide fuel or landing services. He added that selling tickets would result in being knocked out of the dollar system.

Sanctions on Financial Enablers

Bessent noted that the U.S. had already sanctioned enablers globally. He stated that the second largest bank in Egypt was sanctioned after its Dubai branch funneled more than $1.8 billion into the Iranian government. The bank will be closed down.

He mentioned that the 30th largest Turkish bank faces the same fate. Bessent also accused external branches of the second largest Russian bank of aiding Iran.

Diplomatic Engagement

The Treasury Secretary said the U.S. is in touch with Chinese authorities, who have been very engaged. He noted that quiet behind-the-scenes discussions are better than public displays.

Aviation Sector Context

Iran has several airlines besides the national flag-carrier Iran Air. Other carriers include privately owned Mahan Air and AVA Airlines. The largest airport is Imam Khomenei International Airport in Tehran. According to Iranian government data, 7.6 million passengers traveled through the airport in 2024.

A Treasury statement released on September 8 noted that the U.S. sanctioned 27 airlines in Iran under E.O. 13902. This executive order, issued by Trump in 2020, imposes sanctions on persons operating in designated sectors of the Iranian economy.

Disclaimer: This article is AI-generated using data from ViewTrade. ScanX is not liable for any inaccuracies.

How will the exclusion from the dollar system impact the liquidity and operational stability of major banks in Egypt, Turkey, and Russia?

What alternative financial corridors or barter systems might Iran and its partners develop to bypass U.S. sanctions on aviation fuel and ticketing?

Will the shutdown of Iranian airlines lead to a significant surge in regional air freight costs or disrupt global supply chains dependent on Middle Eastern transit hubs?

Bessent rejects AI liability shield, proposes US-China alert mechanism

1 min read | Published on 21 Sept 2026, 07:22 PM |Updated on 21 Sept 2026, 07:22 PM

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Ritika DScanX News Team

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Key Highlights

Treasury Secretary Bessent rejects federal liability shield for AI firms
Humans must be held responsible for AI actions, not the technology
Proposed US-China alert system for national security AI incidents
Nvidia CEO Huang accuses AI lab leaders of seeking regulatory relief

*this image is generated using AI for illustrative purposes only.

Treasury Secretary Scott Bessent stated that artificial intelligence companies must accept responsibility for their products, rejecting calls for a federal liability shield. He emphasized that humans, not the technology itself, are accountable for actions taken by AI systems.

Bessent made these remarks on CNBC’s Squawk Box, addressing President Donald Trump’s opposition to a regulatory crackdown on the industry. Trump has announced plans to appoint an artificial intelligence adviser and create an "AI force" to oversee sector growth.

US-China Cooperation Proposal

Bessent suggested a mechanism for the United States and China to notify each other about AI incidents affecting national security. This proposal followed a meeting with Chinese Vice Premier He Lifeng, days before the scheduled summit between Trump and Chinese President Xi Jinping.

Officials have not disclosed what would trigger the alert or how the system would operate. Chinese state media reported that the two sides discussed AI-related matters without providing further details.

Industry Debate Intensifies

The comments come amid growing concern from some AI leaders regarding risks from rapidly advancing models. Nvidia Corp. (NASDAQ: NVDA) CEO Jensen Huang accused AI lab leaders of being "irresponsible" and resorting to "too much drama" in their calls for oversight. Huang suggested these leaders seek relief from existing laws rather than new regulations.

Disclaimer: This article is AI-generated using data from ViewTrade. ScanX is not liable for any inaccuracies.

How might the rejection of a federal liability shield impact the valuation and risk assessment of major AI developers like Nvidia and OpenAI?

What specific criteria could the US and China establish to define 'national security incidents' in AI, and how feasible is enforcement between geopolitical rivals?

Will the proposed 'AI force' under President Trump prioritize deregulation to spur growth, or will it implement strict oversight mechanisms despite Trump's stated opposition to crackdowns?