Treasury to Sanction 'Large Bank' Monday Over Iran — SkimNews
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- Treasury Secretary Scott Bessent said a 'large bank' will be sanctioned Monday during a 'Real America's Voice' interview, without naming the institution or its home country.
- Bessent said the Monday timing was chosen to 'honor the memory of our fallen citizens on 9/11.'
- The Trump administration previously sanctioned Dubai branches of Egypt's second-largest bank over alleged $1.8 billion in transfers to Iranians, and shut the 30th-largest Turkish bank for similar Iran-linked funds.
- On Sept. 4, Treasury sanctioned Turkey-based Golden Global Yatirim Bankasi Anonim Sirketi and its subsidiaries.
- The push follows 'Operation Economic Outcast,' announced last month, which sanctioned almost 60 entities, vessels, and individuals and expanded secondary sanctions on Iran's shipping and technology sectors.
Why it matters: Treasury is openly weaponizing the 9/11 anniversary as a rhetorical frame, and the targets are banks in nominally allied nations — Egypt, Turkey — not just Iran. Foreign banks with Iranian clients now face a binary: cut ties or absorb secondary-sanctions exposure on shipping and tech, tightening the financial vise on Tehran through its own trade partners.
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