Scott Bessent said Thursday that "a large bank" will be hit with U.S. sanctions next week. "We're going to do it on Monday because we want to honor the memory of our fallen citizens on 9/11. But watch this space on Monday," he said on "Real America's Voice." He did not identify the institution or the country where it is based.
Bessent linked the coming action to recent steps targeting Iran-related flows. He noted that the Trump administration sanctioned the Dubai branches of Egypt's second largest bank, which is believed to have provided $1.8 billion to Iranians. He added that Turkey's largest bank "that had been giving to the Iranians" will also be closed.
According to Bessent, the U.S. has, from February when the Mideast conflict started, taken multiple economic steps targeting Iran, among them sanctions. He added that the administration ratcheted up pressure last month through "Operation Economic Outcast," imposing sanctions that affected almost 60 entities, vessels, and individuals. He also said the U.S. widened the reach of secondary sanctions on those doing business with Iran in sectors such as shipping and technology.
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Policy moves like these can shift cross-border financing and raise uncertainty around global trade, especially in sectors cited by officials. If you watch energy, shipping, or tech supply chains, this is one to keep on your radar as the U.S. signals more to come next week.
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