Trump administration to sanction unnamed 'large' bank on Monday, Bessent says
Bessent said the move was originally scheduled for Friday but was postponed because of the ceremonies marking the 25th anniversary of the September 11 attacks.
The Trump administration plans to sanction a large bank on Monday, according to US Treasury Secretary Scott Bessent. Bessent did not disclose the name or country of the financial institution, stating that the move is part of the administration's ongoing economic pressure on Iran. The sanction was initially scheduled for Friday but was postponed due to the 25th anniversary of the September 11, 2001 attacks.
Bessent emphasized that the administration will continue with this process until Iran stops dealing with the regime, making it unprofitable for any entity to risk an "extinction-level event" for its company or personal finances. The US has imposed various economic measures against Iran since the conflict began in February, targeting oil exports, shipping networks, weapons procurement channels, financial intermediaries, digital asset exchanges, and aviation links.
Recently, the administration escalated its campaign with what Bessent called "Operation Economic Outcast," sanctioning nearly 60 entities, individuals, and vessels, and expanding secondary sanctions on those doing business with Iran in sectors such as shipping, aviation, technology, gold, and digital assets. Despite the increasing pressure on Iran, US President Donald Trump predicted that the war will not end until after the November US midterm elections.
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