August 30, 2026 | The Wall Street Journal
Trump’s New Iran Sanctions Put China on Notice
The administration moves beyond chasing shell companies and targets banks that help Tehran.
August 30, 2026 | The Wall Street Journal
Trump’s New Iran Sanctions Put China on Notice
The administration moves beyond chasing shell companies and targets banks that help Tehran.
Excerpt
For years, Washington has imposed sanctions on Iran and its regime’s supporters while largely sparing the foreign banks that help Tehran evade those sanctions. The Trump administration wants to change that.
Days after Treasury Secretary Scott Bessent announced an “economic D-Day” campaign against Iran’s enablers, the department announced on Aug. 28 it will cut off five United Arab Emirates-based branches of Egypt’s state-owned Banque Misr from access to the U.S. financial system. Treasury can complete the measure after a 30-day public comment period. This gives the bank, along with regulators in Egypt and the U.A.E., a window to coordinate with Washington and address misconduct. If the bank credibly cleans house, Treasury can reconsider the proposed measure.
Mr. Meizlish is a research fellow at the Foundation for Defense of Democracies. He has worked in the U.S. Treasury’s Office of Foreign Assets Control.