U.S. to Sanction Another Bank in Effort to Pressure Iran
The United States is preparing to impose sanctions on another bank this week in a continued effort to economically isolate Iran, according to a report from Al Jazeera. This move comes amid ongoing deadlock in truce negotiations with Tehran.
Treasury Secretary Scott Bessent emphasized the aggressive nature of this approach, describing it as "financial violence" and indicating that such measures will become more frequent. The sanctions could potentially sever the targeted institution from the dollar-based financial system.
This development is part of the broader "Operation Economic Outcast," a campaign launched by the U.S. Department of the Treasury on August 24, 2026. The operation aims to cut off Iran's financial resources, which Washington identifies as supporting terrorism. The campaign includes the possibility of secondary sanctions and blocking U.S. correspondent accounts for foreign banks aiding Iran.
Recent actions under this operation include a proposed rule targeting the UAE branches of Egypt's Banque Misr, aiming to cut their access to the U.S. financial system.