U.S. Prepares Sanctions on Large Bank as Trump Defends Iran War Despite Midterm Risk
Updated
Updated · CNBC · Sep 11
U.S. Prepares Sanctions on Large Bank as Trump Defends Iran War Despite Midterm Risk
3 articles · Updated · CNBC · Sep 11
Summary
Monday sanctions will hit an unnamed large bank, Treasury Secretary Scott Bessent said, as Washington steps up efforts to cut Iran off from the global financial system.
Bessent said the move was delayed to honor 9/11 victims and follows sanctions on Dubai branches of Egypt's second-largest bank and on Turkey's largest bank over alleged support for Iran.
Trump, defending the war in interviews Thursday, said he would attack Iran again even if it hurts Republican midterm prospects, arguing Tehran would use a nuclear weapon against Israel, the region and U.S. cities.
His remarks came as markets brace for a longer conflict after reports White House advisers discussed a war extending beyond his term, even as Trump insisted it would be settled right after the elections.
Trump also denied Iranian claims of damage to U.S. aircraft at a base in Jordan, saying there was "no damage" while casting doubt on Iran's ability to withstand mounting economic pressure.