Bessent: US sanctions on a major bank for dealing with Iran on Monday

Bessent said Washington will continue to impose Iran-related sanctions "until everyone stops dealing with this regime," warning institutions and individuals that continued dealings with Tehran could subject their businesses and funds to sanctions.

Addressing entities that continue to provide financial support or help Iran evade sanctions, he added: "We will come after you."

The anticipated sanctions come within the framework of the "economic isolation" operation announced by Bessent on August 24, aimed at dismantling oil smuggling, money laundering, and sanctions evasion networks that generate revenue for Iran.

Bessent explained that the campaign targets entities that continue to support the Iranian regime, whether by financing what Washington describes as terrorism, money laundering, or assisting in evading sanctions, stressing that the Treasury Department will work to cut off these entities from the US financial system.

The US administration stepped up its campaign last month by imposing sanctions on nearly 60 individuals, entities, and vessels, alongside expanding the risks of secondary sanctions on entities dealing with Iran in sectors including shipping, aviation, technology, gold, and digital assets.

In its latest measures, the Treasury Department announced sanctions on Thursday against individuals and entities it said support the Iraqi Hezbollah Brigades, Lebanese Hezbollah, and networks linked to the Quds Force of the Iranian Islamic Revolutionary Guard Corps (IRGC).

The measures included four leaders and members of the Hezbollah Brigades, alongside Arab officials and businessmen accused by Washington of helping with military acquisitions and financial networks linked to Iran.

The sanctions also targeted networks the department said used front companies, oil sales, and exchange channels to transfer funds to Hezbollah, noting that one of these networks transferred hundreds of millions of dollars between May and September 2025.

The Treasury also tightened its policy on granting Iran-related licenses, making the default rule the rejection of applications except in limited cases, warning foreign financial institutions that facilitating large transactions for sanctioned entities could expose them to secondary sanctions.

Washington stresses that economic pressure will continue until Tehran changes its behavior, while Bessent's statements indicate that the financial sector will be at the forefront of the next phase of the US sanctions campaign against Iran.