Iran Faces Fresh US Sanctions: Scott Bessent Warns Major Bank Could Be Targeted Monday

The Trump administration is preparing to impose fresh sanctions on a “large bank” as Washington intensifies its economic campaign against Iran, Treasury Secretary Scott Bessent has said.

The name of the financial institution and the country where it operates have not been disclosed. Bessent made the remarks during an appearance on “Real America’s Voice” on Thursday. He said the sanctions had originally been planned for Friday but were postponed because of the 25th anniversary commemorations of the September 11, 2001, terrorist attacks.

The new measures are expected to add to Washington’s growing pressure on Iran’s financial and economic networks.

Bessent Issues Strong Warning Over Iran Business

Bessent described Iran as a “cornered and wounded” animal and said the US would continue tightening economic restrictions until transactions involving the Iranian regime are significantly curtailed.

He warned banks, businesses and individuals that continuing commercial dealings with Iran could expose them to serious financial penalties. The objective, he said, is to make business with Tehran so costly that companies and individuals would consider it too risky to continue.

The Treasury chief also made clear that Washington is prepared to pursue entities that continue supporting Iran despite US sanctions.

Why Is Washington Targeting Iran’s Financial Network?

The planned action against the unnamed bank is part of a wider US effort to squeeze Iran’s access to international finance and restrict the flow of money that supports Tehran’s economy.

Bessent previously announced an initiative called “Operation Economic Outcast”, designed to target financial networks, businesses and countries accused of helping Iran generate revenue or evade American sanctions.

The Treasury secretary has also warned that sustained sanctions pressure could push Iran’s economy into a severe crisis in the coming weeks or months. He has stressed, however, that economic collapse is not Washington’s stated objective. Rather, the administration wants economic pressure to force Tehran to change course.

US Has Already Targeted a Turkish Bank

The latest warning comes after Washington recently sanctioned Turkish lender Golden Global Bank and its subsidiaries over alleged Iran-related financial activity.

The US accused the bank of facilitating tens of millions of dollars in transactions linked to Iran’s Islamic Revolutionary Guard Corps-Qods Force. American authorities also alleged that the lender helped transfer Iranian oil revenues from China to Turkey through gold and cash.

Golden Global Bank denied the allegations, saying it had complied with domestic and international banking rules. The bank also said none of its transactions supported the activities cited by Washington and that it planned to challenge the sanctions through legal channels.

Iran Sanctions Extend Beyond Banking

Washington’s sanctions campaign has expanded well beyond financial institutions. The Treasury Department has also sanctioned 27 Iranian airlines, along with nine foreign entities, cargo providers and sales agents.

The measures are designed to make it harder for Iran to use international businesses and financial networks to generate revenue and maintain access to global markets.

In July, the US also sanctioned two Iran-linked companies accused of supporting a maritime network backed by the Islamic Revolutionary Guard Corps.

Iran Acknowledges Growing Economic Pressure

Iranian President Masoud Pezeshkian has acknowledged that US sanctions are weighing heavily on the country’s economy.

Pezeshkian recently said Iran’s oil trade had declined by around 25% to 35%, while imports had fallen even more sharply than exports. He also pointed to fuel shortages and other economic challenges facing the country.

The Iranian president rejected the argument that US sanctions have little effect, saying the country is confronting significant economic problems as Washington continues to increase pressure.

What Could Monday’s Sanctions Mean?

The biggest unanswered question is the identity of the “large bank” Bessent referred to. Washington has not yet disclosed its name, location or the specific transactions that allegedly prompted the planned action. If the targeted institution has a significant role in Iran-related finance, the sanctions could further restrict Tehran’s access to international banking channels and complicate its ability to move oil revenues and other funds.

The move would also serve as a warning to banks, companies and investors worldwide that transactions involving Iran could trigger severe US penalties. For now, attention is focused on which major financial institution Washington will target and how far the Trump administration is prepared to go in expanding its economic campaign against Iran.