Bessent Says U.S. Will Sanction Another Bank This Week Over Iran Transactions

Treasury Secretary Scott Bessent said President Donald Trump’s administration plans to sanction another bank this week as part of its campaign to economically isolate Iran. Speaking in Asheville, North Carolina, before Group of 20 finance meetings, Bessent did not identify the bank and said he would press counterparts to cooperate. He said all options remain available for sanctions on Beijing over Chinese purchases from Iran. The planned measure follows a proposed rule that would cut Banque Misr’s UAE branches from the U.S. financial system over alleged Iranian transactions.