Washington, DC – In a new escalation of the “Economic Fury” campaign, US Treasury Secretary Scott Bisent issued a stern warning to global financial institutions against financing what he called Iran’s “shadow banking system.”
Bissent asserted that this parallel system serves as the financial lifeline for the Iranian armed forces, enabling them to carry out their destabilizing activities.
In a post on the X platform, Bessent explained that “Iran’s parallel banking system is a vital financial lifeline for its armed forces, enabling activities that disrupt global trade and fuel violence throughout the Middle East.” These remarks came in response to the Treasury Department’s imposition of new sanctions targeting 35 entities and individuals who oversaw these complex networks.
Targeting the financial “arteries” of terrorism
The Treasury Secretary noted that the targeted network plays a pivotal role in circumventing international sanctions. Furthermore, it facilitates the movement of tens of billions of dollars to benefit the Iranian Revolutionary Guard Corps.
“The illicit funds laundered through this network support the regime’s ongoing terrorist operations, posing a direct threat to American personnel, regional allies, and the global economy,” said Bessent. Through these sanctions, Washington seeks to cut off funding for the purchase of missile components and advanced weapons systems. It also aims to prevent financial assistance from reaching pro-Tehran militias in the region.
Final warning to international organizations
The minister’s statement was not without a direct threat to international banks, as he clearly stated: “Financial institutions are now aware that any institution that facilitates or interacts with these networks risks severe consequences.”
This warning indicates the possibility of isolating any bank proven to be involved in these transactions from the global financial system. This would effectively cut it off from the dollar-based system.
These moves come amid a naval and air blockade imposed by the Trump administration. There are also reports indicating a decline in Iranian oil production and the emergence of signs of a severe fuel crisis in Tehran.
Observers believe that Washington is currently betting on destroying Iran’s “hidden financial infrastructure” to force it to make significant concessions on its nuclear program and regional influence. This coincides with escalating pressure on the ground.
