US to Sanction Another Bank, Impose Weekly Iran-Related Sanctions, Bessent Says

The United States is intensifying its economic isolation of Iran by planning to target another bank this week with further secondary sanctions. Treasury Secretary Scott Bessent stated that these actions, which involve cutting institutions off from the dollar-based financial system, will become a weekly occurrence. The goal is to deter banks from facilitating financial activities for Iran and its regime.

• The U.S. plans to sanction another bank this week and impose further secondary sanctions on Iran.
• Washington is increasing efforts to economically isolate Tehran.
• A previous penalty was imposed on UAE branches of Egypt’s Banque Misr for alleged financial links to Iran.
• Future actions may involve cutting institutions entirely off from the dollar-based financial system.
• Treasury Secretary Scott Bessent indicated these actions will occur weekly.
• The stated purpose is to prevent banks from handling Iranian money and aiding the regime.