Global
The US Department of Treasury has issued strict warnings directed at all foreign financial institutions continuing to engage with Iran or its financial sector, stressing that they could face severe US sanctions at any time and without prior notice. In a related context, the Treasury urged banks and relevant entities in its directives to take urgent and immediate steps to definitively cut off and liquidate those activities and relationships. These cautionary steps fall within the context of the escalating economic pressure campaign led by Washington against Tehran, which has witnessed in recent months the targeting of banks and financial institutions in third countries accused by the ministry of facilitating Iranian transactions or providing alternative financial channels, as these measures come as an essential part of the "economic exclusion" campaign announced by Treasury Secretary Scott Bessent last August.
