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Treasury Sanctions Iran’s Bank Melli to Close Overseas Branches

8/26/2026

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Summary

Story summary

U.S. Treasury Secretary Scott Bessent announced sanctions targeting Iran’s Bank Melli to shut its foreign branches.
U.S. President Donald Trump’s administration said the sanctions aim to eliminate Bank Melli’s overseas operations.
Bessent said Operation Economic Outcast will punish countries that do business with Iran.
An employee in Dubai confirmed the United Arab Emirates Bank Melli branch remains open for business.

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Story summary

U.S. Treasury Secretary Scott Bessent announced sanctions targeting Iran’s Bank Melli to shut its foreign branches.
U.S. President Donald Trump’s administration said the sanctions aim to eliminate Bank Melli’s overseas operations.
Bessent said Operation Economic Outcast will punish countries that do business with Iran.
An employee in Dubai confirmed the United Arab Emirates Bank Melli branch remains open for business.