US Treasury warns foreign financial institutions of surprise sanctions over Iran business

The US Treasury warned foreign financial institutions dealing with Iran that they risk US sanctions at any time without prior notice.

• The US Treasury warned foreign financial institutions continuing to deal with Iran or its financial sector that they could face US sanctions at any time without prior notice.
• Treasury called on those institutions to take immediate action to end such activity and relationships.
• The warning extends the economic pressure campaign Treasury Secretary Scott Bessent announced in August targeting banks in third countries facilitating Iranian transactions.
• The Treasury has in recent months targeted banks in third countries it accuses of providing alternative financial channels to Tehran.