The latest measures are targeted against Golden Global Bank and its subsidiaries, which, according to the US Treasury, “helped” the IRGC “carry out operations worth tens of millions of US dollars.”
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Additionally, these companies are said to have provided Tehran with “important access to correspondent banking services, allowing it to transfer its funds internationally.”
This step was taken after Washington last week took action to cut off the operations of a major Egyptian bank in the United Arab Emirates (UAE) from the US financial system.
“Financial institutions continue to experience firsthand that we are serious about Operation ‘Economic Outcast’,” US Treasury Secretary Scott Bessent emphasized in a statement.
“While we hope that no further banks will need to be sanctioned, it ultimately depends on how quickly the international community comes to its senses and stops supporting the murderous Iranian regime,” he added.
Promising to “economically suffocate” Tehran, S. Bessent said on Tuesday that Washington is likely to announce sanctions on one bank this week and another next week.
Iran has been at war since the end of February, when the United States and Israel launched a surprise bombing campaign that killed Iran’s supreme leader.
S. Bessent recently stated that the United States is declaring an “economic D-day” for Iran and warned of severe consequences for countries that do not join this campaign.
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