US Treasury Department warns foreign financial institutions over Iran sanctions
It was reported that foreign financial institutions continuing to do business with Iran could face sanctions without prior notice.
The US Treasury Department announced that foreign financial institutions maintaining commercial relations with Iran or the country's financial sector could face sanctions at any time without prior notice.
Statement from OFAC
In a statement by the US Treasury Department's Office of Foreign Assets Control, it was stated that foreign financial institutions doing business with Iran could be targeted under Operation Economic Exclusion.
Sanction Risk and Transactions
It was emphasized that institutions continuing to transact with sanctioned Iranian financial institutions must take immediate action to terminate these relationships. It was noted that institutions facilitating access to the global financial system are at risk.
Legal and Criminal Risks
It was recorded that if Iran-related transactions by foreign financial institutions lead to US entities violating sanctions, they could face legal and criminal penalties.
Statements by Scott Bessent
US Treasury Secretary Scott Bessent argued in a social media post that Operation Economic Exclusion is yielding results. Bessent stated that the Iranian rial has fallen to record lows.