Bessent says 'a large bank' will be sanctioned on Monday as part of Iran strategy
U.S. Treasury Secretary Scott Bessent said that a large bank would be sanctioned next week.
TL;DR
- U.S. Treasury Secretary Scott Bessent announced a large bank will be sanctioned next Monday.
- The sanction is timed to honor the memory of 9/11 victims.
- This action follows previous sanctions on banks involved with Iran.
- The Trump administration previously sanctioned Dubai branches of Egypt's second-largest bank and Turkey's largest bank for alleged dealings with Iran.
- The U.S. has increased economic measures against Iran since February, including "Operation Economic Outcast," which sanctioned nearly 60 entities, vessels, and individuals.
- Secondary sanctions were also expanded to include those involved in business with Iran in shipping and technology.