Scott Bessent Announces New Sanctions on Turkey's Largest Bank and Iranian Aviation Sector
The administration announced sweeping new sanctions against Iran, targeting the country's airlines and international service providers to isolate Tehran from the global economy. As part of "Operation Economic Outcast," the U.S. Treasury sanctioned 27 Iranian airlines, specifically aiming to ground Mahan Air, which has long supported the Iranian regime's activities.
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The measures also target foreign firms, including nine internationally-based entities that allegedly aided Mahan Air's operations. Scott Bessent, the U.S. Treasury Secretary, stated that Turkey's largest bank will be sanctioned on Monday to honor the memory of fallen citizens on 9/11. This action follows the administration's decision to sanction the Dubai branches of Egypt's second-largest bank, Banque Misr, and Turkey's Golden Global investment bank. These sanctions were implemented because these institutions were accused of enabling the Iran-related funds and oil revenues. While the administration aims to push Iran toward a settlement, Iranian officials have responded with mixed views. Foreign Minister Abbas Araghchi dismissed the effectiveness of the campaign, while the Iranian people are reportedly suffering from high inflation and a plummeting currency value.
Sources
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Bessent says 'a large bank' will be sanctioned on Monday as part of Iran strategy
cnbc.com
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How the U.S. Treasury's New Aviation Sanctions on Iran Extend Beyond Tehran
Time Magazine