US to sanction another bank to keep economic pressure on Iran

WASHINGTON — The Trump administration plans to impose sanctions on another bank this week as it intensifies efforts to economically isolate Iran, US Treasury Secretary Scott Bessent said on Sunday.“This is going to be financial violence if we have to,” Bessent told the Associated Press in an interview. “We are showing people that we know who you are, you know who you are, and this has got to stop.”The announcement comes just days after Washington said it would cut off the UAE operations of Banque Misr from the US financial system after accusing Egypt’s second-biggest bank of doing business with the Iranian government.Bessent spoke ahead of Group of 20 meetings in Asheville, North Carolina, where he will meet individually with his counterparts from the world’s major and developing economies to encourage cooperation against Iran.The Trump administration recently signaled that it would shift from military strikes to economic pressure during a war that recently reached the six-month mark, promising what it called an “economic D-Day” against a country that has already weathered decades of punishing sanctions.However, hostilities between the US and Iran flared on Sunday. US forces struck