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What to Know About Bank Melli, Singled Out in U.S. Call for Economic War

In brief

Bank Melli, Iran's principal financial institution, faces unprecedented restrictions following U.S. Treasury directives aimed at dismantling its international operations. Treasury Secretary Scott Bessent has mandated the closure of all foreign branches, escalating economic pressure on Tehran's banking sector. These measures represent a significant intensification of financial sanctions targeting Iran's economic infrastructure, severely constraining the bank's capacity to conduct cross-border transactions and maintain global financial relationships.

Summary auto-generated by AI from the original publisher's content. Editorial standards.

What to Know About Bank Melli, Singled Out in U.S. Call for Economic War
What to Know About Bank Melli, Singled Out in U.S. Call for Economic War

Bank Melli, Iran’s largest lender, already faces waves of sanctions that severely limit its ability to operate abroad. Every foreign branch must be shut down, Treasury Secretary Scott Bessent said. continue reading...

Author
The New York Times

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