U.S. to announce new Iran bank sanctions this week

U.S. Treasury Secretary Scott Bessent announced on September 1 that the United States is poised to impose new sanctions on an Iranian bank this week, with additional measures expected the following week, as part of an escalating economic campaign to isolate Tehran. The announcement came during a meeting of G20 finance leaders in Asheville, North Carolina, and follows a series of recent military strikes between the two nations. "We are probably going to announce a bank sanction this week, and we will announce one the week after," Bessent said. He emphasized that the U.S. has "zero tolerance" for Iran and intends to "economically asphyxiate this regime." The Treasury secretary outlined that the sanctions could target not only banks but also airline leasing companies and any entity doing business with Iran's Islamic Revolutionary Guard Corps (IRGC). "We are tracking down the IRGC's assets," he stated. Bessent directly addressed the IRGC, warning that U.S. officials are aware of its financial holdings. "We know where in the British Virgin Islands your accounts are at these trust companies.