Trump administration to sanction unnamed 'large' bank on Monday, Bessent says
XLF•U.S. steps up pressure on Iran
The United States has imposed a range of 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.
The Trump administration escalated its campaign last month with what Bessent called "Operation Economic Outcast," imposing sanctions on nearly 60 entities, individuals and vessels and expanding the scope of secondary sanctions on those doing business with Iran in sectors including shipping, aviation, technology, gold and digital assets.
Despite the increasing pressure on Iran, U.S. President Donald Trump predicted on Wednesday that the war will not end until after November's U.S. midterm elections.
Treasury says sanctions on a large bank are coming Monday
U.S. Treasury Secretary Scott Bessent said on Thursday the Trump administration will sanction a large bank next week as it continues to apply economic pressure on Tehran to end a more than six-month U.S. conflict with Iran.
He named neither the financial institution nor its country during his appearance on "Real America's Voice," but said the move would happen on Monday.
Bessent said the move was originally scheduled for Friday but was postponed because of the ceremonies marking the 25th anniversary of the September 11, 2001, attacks — the deadliest assault on U.S. soil.
"We are just going to continue with this process until everyone stops dealing with this regime," he said.
"We will make it so unprofitable that if you want to risk an extinction-level event for your company or for your person, your personal finances, then have at it. But we are coming for you."
