US plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells AP
Bessent said weekly sanctions will start with banks and could cut institutions off from the U.S. dollar system, citing $1.8 billion in flagged UAE bank transfers.
- On Sunday, Treasury Secretary Scott Bessent announced the Trump administration plans to impose new sanctions on another bank this week to clamp down on Iran transactions.
- Bessent recently initiated a campaign demanding countries sever financial ties with Iran or face retaliation from the United States, vowing an "economic onslaught" against trading partners.
- China, which buys 90% of Iran's oil, issued a defiant warning to Washington regarding these measures, refusing to back down despite United States pressure.
- Despite United Arab Emirates promises to sever transactions last week, Iranian bank branches remain open in Dubai and commercial flights between Iran and Turkey continue.
- During Group meetings in Asheville, North Carolina, Bessent will meet individually with counterparts from major economies to encourage participation in the economic isolation of Iran.
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Bessent Says US to Sanction Another Bank, Impose Weekly Iran-Related Sanctions
U.S. Treasury Secretary Scott Bessent announces a new set of sanctions against Iran, describing them as "an economic D-Day", in the Cash Room at the Treasury Department in Washington on Aug. 24, 2026. (Chip Somodevilla/Getty Images)
US to Impose New Iran Sanctions Weekly, Treasury Secretary Warns
The United States will likely impose new secondary sanctions on Iran every week, with banks and financial institutions becoming the first targets in Washington’s expanding economic pressure campaign against Tehran, US Treasury Secretary Scott Bessent said. Bessent said the Trump administration plans to intensify its sanctions campaign in the coming weeks, warning that foreign banks […] The post US to Impose New Iran Sanctions Weekly, Treasury Se…
US Treasury Secretary vows news sanctions on Iran 'every week'
US to tighten secondary sanctions on Iran and its business partners every week, Treasury Secretary Bessent declares, as Trump leans into economic campaign against Tehran. The post US Treasury Secretary vows news sanctions on Iran ‘every week’ appeared first on World Israel News.
United States Secretary of the Treasury Scott Biscint revealed plans to impose sanctions on another bank cooperating with Iran, as part of the economic and financial campaign against Tehran, at a time when reports of the United States Administration have been accused of hesitation against China.
Washington warns the international financial institutions of the implications of cooperation with Tehran.
The US intends to impose new secondary sanctions every week to increase economic pressure on Iran, stated US Treasury Minister Scott Bessent on Sunday.
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