Archive · 6 Oct 2026
US warns foreign banks to cut Iran ties, risk sanctions
The US Treasury has warned banks in other countries about doing business with certain Iranian banks.
It says those banks could face US sanctions, even without a warning beforehand.
The Treasury urged them to end relationships and activities that could put them at risk.
The warning also covers services provided through branches or subsidiaries in other countries.
One possible penalty is losing access to certain accounts at US banks.
That could make it harder for a bank to use US financial services and dollar-based banking channels.
The US says it is trying to increase financial pressure on Iran.
The warning comes during the ongoing war involving Iran, the US and Israel.
The US Treasury warned foreign financial institutions they could face sanctions for business with sanctioned Iranian financial institutions.
The Treasury said institutions could be targeted without advance notice and urged them to end relevant activities and relationships immediately.
The warning covers services to Iranian banks and their subsidiaries or branches in third countries.
Possible measures include limits on foreign banks’ US correspondent or payable-through accounts.
The alert comes as Washington seeks to intensify financial pressure on Iran during the ongoing war involving Iran, the US and Israel.
- Who
- The US Treasury Department and foreign financial institutions doing business with sanctioned Iranian financial institutions.
- What
- The Treasury warned that foreign institutions could face US sanctions and restrictions, potentially without advance notice.
- When
- The warning was issued during the ongoing war; the article says the war began on February 28.
- Where
- The warning applies to foreign financial institutions and transactions involving sanctioned Iranian financial institutions, including activity in third countries.
- Why
- Washington says it is seeking to further restrict Iran’s access to the global financial system and increase financial pressure on Tehran.
- Issuing department
- US Treasury Department
- Institutions warned
- Foreign financial institutions that transact with or provide services to sanctioned Iranian financial institutions
- Notice
- The Treasury said institutions could be targeted at any time without advance notice.
- Potential restriction
- Limits on opening or maintaining US correspondent or payable-through accounts
- Other possible penalties
- Civil and criminal enforcement penalties may apply if Iran-related transactions cause US banks or persons to violate sanctions.
- Conflict context
- The article says the war began on February 28 after the US and Israel attacked Iran.