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INDIA
US to impose fresh sanctions on banks aiding Iran: Treasury Secretary Bessent
US Treasury Secretary Scott Bessent said Washington will impose fresh sanctions on banks and entities aiding Iran, including those linked to the IRGC. He warned of financial-system restrictions, asset freezes and intensified enforcement, while citing cooperation with European and regional partners
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- Why it matters
- Banks facilitating Iranian transactions face asset freezes and financial-system restrictions, raising costs for institutions with Iran exposure and potentially cutting off Iran's access to global banking.
- Most affected
- Financial institutions with Iran exposure — Face asset freezes and financial-system restrictions.
Iran and IRGC-linked entities — Access to global banking and dollar transactions further restricted. - Likely next
- Whether the Treasury Department announces specific banks targeted or the scope and timing of the sanctions.
Also reported by: Khaama Press
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