The United States will sanction a major bank next week as the Trump administration continues to ramp up economic pressure on Tehran, US Treasury Secretary Scott Bessent said on Thursday.
Bessent did not identify the bank or reveal which country it is based in, but said the sanctions would be imposed on Monday.
The move was originally scheduled for Friday but was postponed due to ceremonies marking the 25th anniversary of the Sept 11, 2001 attacks, he said.
“We are just going to continue with this process until everyone stops dealing with this regime,” Bessent said during an appearance on Real America’s Voice.
“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.”
The United States has imposed a series of economic measures against Iran since the conflict began in February, targeting oil exports, shipping networks, weapons procurement channels, financial intermediaries, digital asset exchanges and aviation links.
The Trump administration intensified the campaign last month under what Bessent called “Operation Economic Outcast”, imposing sanctions on nearly 60 entities, individuals and vessels.
The measures also expanded secondary sanctions against those doing business with Iran in sectors including shipping, aviation, technology, gold and digital assets.
Despite the growing economic pressure, US President Donald Trump said on Wednesday that he expected the war with Iran would not end until after November’s US midterm elections.
