U.S. Plans New Sanctions Against Bank Tied to Iran
The Trump administration is preparing to impose sanctions this week against another bank involved in transactions with Iran, according to U.S. Treasury Secretary Scott Bessent. Speaking ahead of the Group of 20 meetings in Asheville, North Carolina, Bessent emphasized the need for global economic isolation of Iran and warned that further actions would be taken if necessary. The latest move follows a recent campaign dubbed 'Operation Economic Outcast,' aimed at cutting off all financial ties to Iran. The Treasury Department has already targeted the United Arab Emirates branch of Egypt's Banque Misr due to its connections with Iranian entities, revoking its access to U.S. financial institutions.
Topics: financial_sanctions international_relations iran_policy