US plans to sanction another bank to keep economic pressure on Iran

Author: Adam HancockPublished on: August 31, 2026Country: United States

PoliticsBusiness & Economy

US plans to sanction another bank to keep economic pressure on Iran

US Treasury Secretary Scott Bessent announced that the US will impose sanctions on another bank this week as part of its campaign to economically isolate Iran. This decision follows Washington's move to cut off the operations of Banque Misr in the UAE, accused of doing business with the Iranian government. Bessent stated that harsher financial measures would be taken to prevent banks from dealing with Iranian money.

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