US Set to Sanction Another Bank Over Iran Transactions
Treasury Secretary Scott Bessent said Sunday the U.S. will sanction another bank this week to cut off Iran's financial transactions. He made the announcement ahead of G-20 meetings in Asheville, North Carolina.
- 90% of Iran's oil goes to China, which issued a defiant warning to Washington.
- Treasury's first action was a proposed rule targeting Emirati branches of Banque Misr.
- Iranian bank branches remained open in Dubai despite UAE pledges to cut ties.
- Commercial flights between Iran and Turkey and the UAE continued through week's end.
Why it matters: The U.S. campaign aims to starve Iran financially and pressure it on nuclear weapons and the Strait of Hormuz. But early results show major trading partners are not complying.
- Stopping short of full sanctions on Banque Misr signaled reluctance to penalize major partners like China and India.
How 13 sources split on this story
Where they split: The central dispute is whether the U.S. is holding back against major Iran trading partners or pursuing a deliberate, graduated pressure strategy.
Center coverage, 6 sources: The center focuses on the gap between Bessent's warnings and the administration's cautious first moves, noting reluctance to penalize large trading partners.
Associated Press7hUS plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells AP
Reuters5hWashington entend intensifier davantage la pression économique sur l'Iran, dit Bessent
Jerusalem Post2hBessent expects new US secondary sanctions weekly, aiming to increase pressure on Iran
PBS NewsHour7hU.S. plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells APWPWPXI Pittsburgh7hUS plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells APYNYahoo News7hUS plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells APLeft coverage, 5 sources: The left frames the week as a failure of Bessent's aggressive rhetoric, with allies shrugging off threats and analysts underwhelmed by limited U.S. action.
Political Wire14hWorld Mostly Shrugs Off Bessent’s ‘D-Day’ Iran Sanctions
ABC News6hUS plans to sanction another bank in effort to clamp down on Iran transactions, AP
Al Jazeera3hUS plans to sanction another bank to keep economic pressure on IranTBGThe Boston Globe13mG20: Bessent to rally allies on Iran as tariffs strain ties
The Independent7hUS plans to sanction another bank in effort to clamp down on Iran transactions, Bessent tells APRight coverage, 2 sources: The right presents Bessent's warnings and campaign at face value, emphasizing the administration's stated resolve to enforce financial isolation of Iran.
What’s next: Bessent said all options remain on the table for sanctioning China over oil purchases.
- A new bank sanction is expected to be announced before the G-20 meetings conclude.
- Will China, India, or the UAE change behavior before the U.S. moves to direct sanctions against them?
- What bank will be targeted, and will the action be a proposed rule or a full sanction?