Key facts
- US Treasury Secretary Scott Bessent stated a large bank will be sanctioned on Monday, September 14.
- The sanctions are intended to pressure Iran to end its conflict with the US.
- The move was delayed from September 11 to September 14 due to 9/11 anniversary events.
- Bessent indicated the US will continue sanctions until entities stop dealing with Iran.
- The US has previously targeted Iranian oil exports, shipping, and digital assets.
US Treasury Secretary Scott Bessent announced on September 10 that the Trump administration plans to sanction a large, unnamed bank on Monday, September 14. This action is part of the US's ongoing economic pressure campaign against Iran, aimed at ending the more than six-month conflict between the two nations. Bessent stated the sanctions were initially scheduled for Friday, September 11, but were postponed to accommodate ceremonies marking the 25th anniversary of the September 11, 2001 attacks.
During an appearance on "Real America's Voice," Bessent did not identify the financial institution or its country of origin. He emphasized the administration's commitment to continuing the sanctions process until all dealings with the Iranian regime cease. The US has already implemented various economic measures against Iran since February, targeting its oil exports, shipping networks, weapons procurement, financial intermediaries, digital asset exchanges, and aviation links. In August, the administration escalated these efforts with "Operation Economic Outcast," sanctioning nearly 60 entities, individuals, and vessels, and broadening secondary sanctions to include those doing business with Iran in sectors such as shipping, aviation, technology, gold, and digital assets. Despite these measures, President Donald Trump predicted on September 9 that the conflict would persist beyond the upcoming November US midterm elections.