Beijing: When US Treasury Secretary Scott Bessent declared an 'economic D-Day' against Iran on Aug 24, he was asked about sanctioning globally important financial institutions. His rhetorical reply: 'Why would I want to blow up the global financial system?'
In a 2023 interview, then-senator Marco Rubio helped explain the hesitation. Within 5 yrs, he had warned, so many countries could transact in currencies other than the dollar that Washington would lose the ability to sanction them.
