The U.S. Treasury Department announced Thursday it will impose sanctions on a large bank on Monday, September 15, as part of an escalating economic strategy against Iran. Treasury Secretary Scott Bessent confirmed the action during an appearance on Real America’s Voice, though he did not disclose the institution’s name or country of origin.
The decision follows a postponement from Friday to honor the 25th anniversary of the September 11, 2001, terrorist attacks, Bessent stated. "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."
Operation Economic Outcast Expansion
The announcement marks the latest phase of Operation Economic Outcast, an initiative launched last month to intensify pressure on Tehran. Since February, the U.S. has targeted Iran’s oil exports, shipping networks, weapons procurement channels, financial intermediaries, digital asset exchanges, and aviation links. The campaign has now expanded to include secondary sanctions on entities engaged in business with Iran across sectors such as shipping, aviation, technology, gold, and digital assets.
Bessent highlighted prior sanctions targeting financial institutions, including the Dubai branches of Egypt’s second-largest bank, which was accused of facilitating $1.8 billion in funds to Iran. Additionally, the Treasury Department sanctioned Turkey’s Golden Global Yatirim Bankasi Anonim Sirketi and its subsidiaries on September 4, citing its role in transactions benefiting Iran.
Scope of Sanctions and Broader Context
The U.S. has imposed nearly 60 sanctions since the conflict began, encompassing entities, vessels, and individuals. The latest measures follow a pattern of escalating economic warfare, with Bessent emphasizing that the administration will persist until Iran ceases its activities. President Donald Trump predicted on Wednesday that the conflict would not conclude before the November U.S. midterm elections, underscoring the prolonged nature of the strategy.
The sanctions reflect a broader U.S. policy of isolating Iran economically, though the specific bank and its jurisdiction remain undisclosed. Analysts note that such actions aim to disrupt Iran’s financial networks and deter third-party entities from engaging with Tehran’s regime.