US Prepares Sanctions on Iranian Bank This Week

US Treasury Secretary Scott Bessent stated that Washington is likely to announce sanctions against a bank this week. This move is part of a US economic campaign to ramp up pressure on Iran.

Bessent noted that bank sanctions would not only be announced this week but could continue into the following week. He stated that the US is coordinating with allies and claims to have strong support for these measures.

The statement was made on the sidelines of a G20 finance leaders' meeting in Asheville, North Carolina. In addition to banks, the US is considering targeting aircraft leasing companies and other entities with business ties to Iran's Islamic Revolutionary Guard Corps (IRGC).

Bessent emphasized that Washington is tracking IRGC assets across various countries. He stated that parties doing business with the IRGC could become targets for sanctions, including entities linked to the group's financial activities and asset holdings.

The US Treasury Department had previously announced plans to roll out new secondary sanctions on a weekly basis, with an initial focus on the banking sector. Subsequent measures could involve completely cutting off an institution's access to the US dollar-based financial system.

Newsmaker Analysis: The planned bank sanctions against Iran indicate a US strategy increasingly focused on financial pressure to limit Tehran's room for maneuver. If these sanctions effectively cut off specific institutions from the dollar system, the impact could intensify pressure on Iran's oil trade and IRGC networks. For markets, the primary risk remains Iran's response—particularly if Tehran retaliates with threats against the Strait of Hormuz or other energy corridors. This situation could keep oil prices sensitive, while the US dollar might gain support as a safe-haven asset. (asd)

Source: Newsmaker.id