US to Sanction Another Bank to Isolate Iran

The United States plans to impose sanctions on another bank this week as part of intensified efforts to economically isolate Iran, U.S. Treasury Secretary Scott Bessent announced on Sunday. Bessent made the statement in an interview ahead of Group of 20 finance meetings in Asheville, North Carolina, where he is scheduled to meet with counterparts from major economies to encourage cooperation against Tehran. "This is going to be financial violence if we have to," Bessent said. "We are showing people that we know who you are, you know who you are, and this has got to stop." He did not name the specific bank that would be targeted. The announcement follows a proposed rulemaking on Friday that would, if finalized, sever the Emirati branches of Banque Misr, Egypt's second-largest bank, from the U.S. financial system. The planned sanctions are part of a broader campaign of economic pressure that the administration has signaled will shift focus from military strikes. This campaign has been described as an "economic D-Day" against Iran, a country that has already endured decades of international sanctions.