US to Sanction Another Bank, Impose Weekly Iran-Related Sanctions, Bessent Says
'This is going to be financial violence if we have to,' Treasury Secretary Scott Bessent said.
TL;DR
- 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.