U.S. Demands Global Shutdown of Iran's Bank Melli Branches

Treasury Secretary Bessent demanded on August 25, 2026 that all foreign branches and subsidiaries of Iran's Bank Melli be shuttered, pressuring third-country governments to enforce closures within their own jurisdictions. The move escalates "Operation Economic Outcast," launched July 2026. Treasury designated Bank Melli in 2018 for channeling payments to the IRGC-Qods Force. Host-government cooperation, not unilateral U.S. action, determines whether closures occur.