- Treasury Secretary Scott Bessent says Washington is pressing countries to restrict Iranian airlines and financial institutions
WASHINGTON: The United States has intensified efforts to economically isolate Iran, with Treasury Secretary Scott Bessent saying Washington has deployed teams around the world to encourage governments to restrict Iranian airlines and financial institutions.
“At my direction, teams were dispatched across the globe to engage with countries and demand action against the Iranian regime,” Bessent said on X, adding that the campaign was producing results.
Bessent pointed to measures taken by Türkiye, Oman and the United Arab Emirates affecting Iranian aviation. The UAE suspended flights operated by Iranian airlines to and from the country, while Türkiye and Oman have also restricted operations by Mahan Air.
The UAE is an important regional aviation and commercial hub for Iran, with longstanding business and community links between the two countries. The suspension comes amid broader US efforts to discourage international service providers from handling Iranian carriers through the threat of secondary sanctions.
Banking restrictions expand
Bessent also highlighted growing restrictions on Iranian financial institutions.
The UAE Central Bank has prohibited branches of Bank Melli Iran operating in the UAE from conducting financial transactions to and from Iran, including trade finance and fund transfers, citing compliance concerns related to anti-money-laundering requirements.
Washington has separately expanded sanctions targeting financial networks alleged to facilitate Iranian sanctions evasion. On September 14, the US Treasury Department sanctioned Russia’s VTB Bank over alleged involvement in establishing correspondent relationships with sanctioned Iranian banks.
Treasury says pressure campaign is expanding
The Wall Street Journal, as cited by Bessent, reported that Treasury officials have been engaging governments across the Middle East and Europe as part of the broader campaign. According to reports, US Treasury officials have held discussions with more than 50 countries.
Bessent has described the campaign as an effort to cut Iran off from financial and commercial channels that Washington says support Tehran’s government and related activities.
Earlier this month, the US Treasury announced sanctions against 27 Iranian airlines and other entities involved in Iran’s aviation sector under its “Operation Economic Outcast,” accusing the sector of supporting the movement of weapons, personnel and illicit cargo.
Despite the expanding restrictions, some Iranian airlines continue to operate international routes, particularly to destinations where governments have not adopted the same restrictions, including China. The differing approaches underscore the challenges facing Washington’s effort to achieve a comprehensive international economic isolation of Iran.
BY: The Times Union
