Shh.. A Giant Bank is Set to Face US Sanctions

A giant bank is set to be sanctioned by the United States next week. This was confirmed by US Treasury Secretary Scott Bessent on Thursday local time.

“We will do it on Monday because we want to honour our citizens who fell during the 9/11 events,” he stated, as reported by CNBC International on Friday.

“However, look forward to developments on Monday,” Bessent said during an appearance on ‘Real America’s Voice’, without naming the specific financial institution or the country involved.

This announcement follows the Trump administration’s imposition of sanctions on the Dubai branch of Egypt’s second-largest bank, which is alleged to have channelled US$1.8 billion (approximately Rp31.56 trillion) to Iranian parties. According to Bessent, Turkey’s largest bank, which has also been providing funds to Iran, will also be shut down.

Since the outbreak of conflict in the Middle East in February, the US has implemented a series of economic measures against Iran, including sanctions. However, the Trump administration increased pressure last month through a move Bessent referred to as “Operation Economic Outcast.”

This initiative has imposed sanctions on nearly 60 entities, vessels, and individuals. The scope of secondary sanctions has also been expanded to include parties involved in business with Iran across various industrial sectors, including shipping and technology.