US to impose sanctions on another bank to pressure Iran

Washington is set to impose sanctions on another bank as part of its intensified efforts to economically isolate Tehran amid stalled truce talks, according to Treasury Secretary Scott Bessent. This follows recent sanctions against the UAE’s Basque Misr for alleged dealings with Iran. The U.S. aims to pressure Iran by cutting off institutions from the dollar-based financial system, while Iran’s Finance Minister has dismissed these sanctions as ineffective.

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