U.S. Pressures Global Closure of Iran's Bank Melli Branches

Treasury Secretary Bessent demanded August 25, 2026 that foreign governments shut all Iran's Bank Melli branches within their jurisdictions. The move escalates "Operation Economic Outcast," launched July 2026. Treasury sanctioned Bank Melli in 2018 for funneling payments to the IRGC-Qods Force — Iran's elite external operations unit. Whether closures actually happen depends on host-government cooperation, not unilateral U.S. action.