Trump Targets Bank Melli’s Foreign Branches as U.S. Expands 20-Year Sanctions Campaign
Updated
Updated · The New York Times · Aug 27
Trump Targets Bank Melli’s Foreign Branches as U.S. Expands 20-Year Sanctions Campaign
3 articles · Updated · The New York Times · Aug 27
Summary
Bank Melli, Iran’s largest state-owned bank, was singled out by the Trump administration for a shutdown of all overseas branches under Operation Economic Outcast.
Scott Bessent said every Bank Melli branch must be “shuttered and dark,” tying the move to a broader U.S. push to punish countries and companies that keep doing business with Iran.
The bank’s foreign reach was already heavily constrained after repeated sanctions since at least 2007, when Washington accused it of helping fund Iran’s nuclear and missile programs.
A Bank Melli employee in Dubai said the UAE branch was still open on Tuesday, underscoring the gap between Washington’s demand and conditions on the ground.
The step fits the administration’s wider effort to sever Iran’s aviation, shipping, technology and financial links abroad as pressure mounts for a new nuclear deal.
With Iran treating the ceasefire as a tactical pause, will new US sanctions trigger an even deadlier military escalation?
As the Strait of Hormuz remains contested, can global oil markets survive the devastating combination of naval blockades and extreme sanctions?
Will the unreleased investigation into the tragic February school strike derail the fragile peace talks before they truly begin?
Economic Warfare and Regional Upheaval: Inside the 2026 U.S. "One-Two Punch" Against Iran and Its Global Fallout
Overview
In early 2026, the U.S. and Israel launched massive airstrikes on Iran after Tehran refused to halt nuclear enrichment, killing Iran’s Supreme Leader and sparking a regional war. Iran responded by blocking the Strait of Hormuz and attacking U.S. and Gulf targets, causing a global oil shock and surging energy and fertilizer prices. A brief peace deal collapsed, leading to renewed U.S. strikes and harsh sanctions, including secondary measures targeting China. The conflict triggered a humanitarian crisis in Iran, mass displacement, and economic turmoil, while Dubai’s trade rupture deepened Iran’s woes and forced expatriates to flee the Gulf.