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Trump Pressures Banks Over Iranian Funds Ahead of Sanctions

4/17/2026

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Summary

Story summary

U.S. President Donald Trump intensifies economic pressure on Iran by sending letters to banks in Oman, the UAE, Hong Kong, and China.
The letters warn these banks may have facilitated Iranian funds for illicit activities.
Treasury Secretary Scott Bessent says the move is a precursor to secondary sanctions.
The waiver allowing Iranian oil sales at sea expires April 19.

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Story summary

U.S. President Donald Trump intensifies economic pressure on Iran by sending letters to banks in Oman, the UAE, Hong Kong, and China.
The letters warn these banks may have facilitated Iranian funds for illicit activities.
Treasury Secretary Scott Bessent says the move is a precursor to secondary sanctions.
The waiver allowing Iranian oil sales at sea expires April 19.