Shibbir Ahmed, WASHINGTON DC — The United States is preparing to intensify economic pressure on Iran with a new campaign of weekly secondary sanctions, Treasury Secretary Scott Bessent said Monday, as military tensions between Washington and Tehran sharply escalated.

Bessent told Reuters that the U.S. Treasury Department is expected to announce new secondary sanctions every week, beginning with measures targeting banks and financial institutions that help Iran maintain access to international markets.

The planned measures are designed to further restrict Iran’s access to the global financial system and increase pressure on institutions and countries that continue doing business with Tehran. The announcement comes as the United States and Iran have entered their most serious period of renewed hostilities in weeks.

U.S. forces struck two Iranian launchers on Larak Island on Sunday after American forces identified what U.S. officials said were preparations by Iran’s Islamic Revolutionary Guard Corps to launch rockets carrying sea mines into the Strait of Hormuz.

Iran responded by launching missiles toward U.S. military bases in Jordan, according to U.S. and Iranian officials. The attacks marked the first direct exchange of fire between the two sides in about a month. President Donald Trump on Monday warned that the United States would respond forcefully to Iran’s attacks. The latest escalation has raised concerns about a wider regional conflict, particularly because of the strategic importance of the Strait of Hormuz, a critical route for global oil shipments.

Financial Pressure on Iran

The planned sanctions would expand the use of so-called secondary sanctions, which can penalize foreign companies, banks and other institutions that conduct certain business with Iran even when those entities are not based in the United States.

Bessent said the campaign would initially focus on banks and could increasingly target institutions that help Iran move money through the international financial system. The Treasury secretary’s announcement represents a further expansion of the administration’s economic campaign against Tehran.

The United States has already broadened the range of Iranian economic activities that could expose foreign businesses to secondary sanctions, including sectors such as digital assets, gold, technology, aviation and shipping.

Last week, the Treasury Department launched what it described as an unprecedented campaign against Iranian financial networks, targeting channels used by Tehran to generate revenue, evade sanctions and finance activities opposed by Washington.

Military Tensions Add to Economic Pressure

The new sanctions strategy comes as diplomatic and military tensions continue to worsen. The U.S. military said its strike on Larak Island was aimed at preventing Iran from deploying sea mines in the Strait of Hormuz. Iran has rejected the U.S. justification and warned that it would respond to further attacks.

Following the Iranian missile launches toward U.S. forces in Jordan, Trump said the United States would respond strongly. Reuters reported that the exchange of attacks represents a renewed escalation after a period in which the two sides had avoided direct military confrontation.

The conflict has also affected global energy markets. Brent crude oil futures settled more than 2.5% higher on Monday after the latest U.S.-Iran military exchanges, reflecting renewed concerns over the security of oil shipments through the Strait of Hormuz.

Pressure on Iran’s Financial Lifelines

The Trump administration has increasingly focused on Iran’s financial networks as part of its broader strategy to weaken Tehran’s ability to fund its government, military and regional activities.

The planned weekly sanctions would represent a significant escalation because foreign financial institutions could face increasing pressure to choose between maintaining business relationships with Iran and retaining access to the U.S.-dominated international financial system.

For Iran, the measures could further complicate access to foreign currency, international banking services and overseas trade. For the United States and its allies, however, the strategy carries its own risks, particularly if increased economic pressure contributes to further military escalation or disruption of global energy supplies.

With the United States preparing additional sanctions and military tensions rising, the coming days could determine whether the latest confrontation remains limited or develops into a broader regional crisis.

Shibbir Ahmed, WASHINGTON, D.C. — August 28, 2026: The United States has imposed new sanctions targeting Iran’s financial network, including a senior official at Iran’s Bank Melli branch in Dubai, as Washington intensifies economic pressure on the Iranian regime. The latest measures were announced Friday under the Trump administration’s continuing “Operation Economic Outcast” campaign.

The U.S. government sanctioned Reza Mohammad Taeedi, manager of Bank Melli’s Dubai branch, accusing the Iranian bank of serving as a key financial hub for Iran’s armed forces. According to the U.S. government, Bank Melli has provided financial support to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and the Ministry of Defense and Armed Forces Logistics, both of which are already under U.S. sanctions.

Washington also imposed sanctions on a Hong Kong-based company that it says helped designated Iranian individuals and entities gain access to the international financial system. Separately, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a rule that would cut Banque Misr UAE off from correspondent banking access to U.S. financial institutions. Treasury officials said Banque Misr UAE represents a critical channel through which the Iranian regime can access U.S. dollars.

“The latest action intensifies our pressure campaign against Iran,” the U.S. government said in its statement. Washington accused the Iranian regime of prioritizing what it described as malign activities over the needs of the Iranian people and said it would continue targeting individuals and entities involved in illicit financial activities on behalf of Iran.

The sanctions also specifically target individuals working for Iranian banks outside Iran, signaling an effort by Washington to disrupt the regime’s financial operations beyond the country’s borders.

The sanctions were imposed under Executive Order 13224, as amended, a U.S. counterterrorism authority, and Executive Order 13902, which targets individuals and entities operating in Iran’s financial sector.

FinCEN’s proposed action against Banque Misr UAE was taken under Section 311 of the USA PATRIOT Act, which gives the U.S. government authority to take special measures against foreign financial institutions or jurisdictions considered to pose money-laundering or other financial risks. The U.S. Treasury Department said additional details on the sanctions and proposed financial restrictions are available in its related enforcement announcement.