The Trump administration is preparing to sanction "a large bank" next week, according to Treasury Secretary Scott Bessent.

Bessent didn't name the bank or say which country it calls home during his Thursday appearance on "Real America's Voice." The sanction was originally slated for Friday, but got pushed back because of the 25th anniversary commemoration of the September 11, 2001 attacks.

Bessent described Iran as a "cornered and wounded" animal and made clear the administration's economic pressure on Tehran won't let up until all transactions with the Iranian regime stop. Cross the line, he cautioned, and you could be looking at serious consequences, up to and including financial collapse.

"We will make it so unprofitable that if you want to risk an extinction-level event for your company or for your person, your personal finances, then have at it. But we are coming for you," Bessent warned.

US Steps Up Pressure on Iran

This is just the latest in a long line of sanctions aimed at economically isolating Iran. Back in August, Bessent launched a campaign called "Operation Economic Outcast," targeting the financial networks, companies, and countries that help Iran generate revenue and dodge sanctions.

Earlier this month, Bessent warned Iran's economy could collapse within weeks or months as Washington turns the screws. He said the goal isn't economic collapse itself, but to pressure Tehran's regime into changing course.

The Recent Slew of Sanctions

Earlier this month, the Treasury Department sanctioned Turkish lender Golden Global Bank and its subsidiaries, accusing them of facilitating tens of millions of dollars in transactions for Iran's Islamic Revolutionary Guard Corps-Qods Force and helping Tehran move oil revenues from China to Turkey through gold and cash.

Golden Global Bank denied the allegations, saying it complied with all domestic and international banking rules and that no transactions support the U.S. claims. The bank said it plans to challenge the sanctions through legal channels.

The Trump administration also sanctioned 27 Iranian airlines and nine foreign entities, cargo providers, and sales agents as part of the operation. In July, the Treasury Department announced sanctions against two Iran-linked companies accused of supporting an IRGC-backed maritime scheme.

Iran Economy Feels Sanctions' Impact

Last month, Iranian President Masoud Pezeshkian acknowledged that U.S. sanctions are hurting the economy, with oil trade falling an estimated 25% to 35%. He said imports have declined more sharply than exports, while fuel shortages and other economic problems worsen.

Pezeshkian conceded that Iran is facing "many problems" as U.S. pressure intensifies. "Saying that sanctions have no effect is not consistent with these facts," he stated.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.