Archive · 3 Sep 2026
Bessent Warns Iran Supporters as US Escalates Sanctions Campaign
Scott Bessent is a senior United States official who warned people and companies helping Iran.
He said banks and businesses that continue supporting Iran could face serious penalties.
He mentioned Banque Misr’s Dubai branches as an example of a bank under pressure.
United States officials said about $1.8 billion passed through the branches in transactions involving companies potentially linked to Iranian networks.
The United States is also examining aviation, shipping and digital-asset businesses.
Bessent said Iran is facing very high inflation, a weaker currency and long lines at petrol stations.
Marco Rubio said countries can choose their own foreign policies but warned them not to help Iran avoid sanctions.
The Trump administration says its goal is to isolate Iran’s government from the global economy.
Treasury Secretary Scott Bessent warned countries, banks and companies supporting Iran that Washington could impose measures severe enough to put them out of business.
He cited sanctions targeting Banque Misr’s Dubai branches over roughly $1.8 billion in transactions involving 103 companies potentially linked to Iranian financial networks.
The United States is seeking to restrict the bank’s UAE operations from accessing US dollar correspondent banking services, without affecting its Egyptian operations.
Bessent said expanded Treasury authorities allow action against Iran’s support network in aviation, shipping and digital assets.
He described sanctions, military action and maritime pressure as a campaign to isolate and “asphyxiate” Iran’s regime, while Marco Rubio separately warned countries against helping Tehran evade sanctions.
- Who
- United States Treasury Secretary Scott Bessent, Secretary of State Marco Rubio, the Trump administration, Iran and entities accused of supporting Tehran.
- What
- The United States warned Iran’s financial and commercial supporters that they could face sanctions and other measures for helping Tehran evade US restrictions.
- When
- Wednesday, September 2; the articles do not specify the year.
- Where
- The warning was given in a Fox News interview and concerns international entities, including Banque Misr branches in Dubai and the UAE.
- Why
- The Trump administration says it wants to prevent Iran from bypassing US sanctions, cut off its financial support network and isolate its regime economically.
- Official issuing the main warning
- United States Treasury Secretary Scott Bessent
- Additional warning
- Marco Rubio said countries helping Iran evade US sanctions could also be sanctioned.
- Bank cited
- Egyptian state-owned Banque Misr, specifically its Dubai branches
- Transactions cited
- Approximately $1.8 billion processed from January 2024 through June 2026 for 103 companies potentially linked to Iranian financial networks
- Proposed banking restriction
- Cutting the bank’s UAE operations off from US dollar correspondent banking services
- Sectors under scrutiny
- Aviation, shipping and digital assets
- Economic conditions cited in Iran
- Inflation above 100 percent, a weakening currency, hourslong petrol-station queues and reported difficulty paying military personnel
- Broader pressure campaign
- Economic sanctions combined with military and maritime pressure
