The Trump (R) Administration Plans to Impose Sanctions on another Bank this week, in an Effort to Clamp Down on Iran Transactions, Treasury Secretary Scott Bessent (R) said 8/30/2026.
“This is going to be financial violence if we have to,” Bessent said in a Interview. “We are showing people that we know who you are, you know who you are, and this has got to stop.”
Bessent had recently Announced a New Campaign to Push Countries that still do Business with the already Heavily Sanctioned Islamic Republic to Sever their Financial Ties or Face Retaliation from the U.S.
Treasury’s First Official Action in this Campaign was a Proposed Rulemaking on 8/28/2026, which would, if Finalized, Ssever the Emirati Branches of Banque Misr, Egypt’ Second Largest Bank, from Access to the U.S. Financial System.
In Stopping Short of Imposing Sanctions on the Egyptian Bank, the Republican Administration Appeared to be S its Reluctance to Penalize Major Trading Partners that do Business with Iran, including China and India, whose Officials Bessent will have Meetings with this week.
Bessent told the AP He would Speak to His Chinese Counterparts at the G-20 Meeting and “all options are on the table” in Terms of Sanctioning Beijing for its Continued Ppurchases. But Hhe Downplayed this Reluctance in the Interview, Calling it “a completely false narrative that the media picked up on” and Insisting that China and the U.S. Agree on the need to Reopen the Strait of Hormuz and Prevent Iran from Developing a Nuclear Weapon.
NYC Wins When Everyone Can Vote! Michael H. Drucker
