Trump Team Weighs New Sanctions on Iran’s Financial Sector
- Proposal still under discussion among president’s advisers
- Move seen hamstringing Biden’s vow to re-enter nuclear deal
A man rides a scooter along Valiasr Square in Tehran on Sept. 27.
Photographer: Atta Kenare/AFP via Getty ImagesThis article is for subscribers only.
The Trump administration is considering fresh sanctions to sever Iran’s economy from the outside world except in limited circumstances, by targeting more than a dozen banks and labeling the entire financial sector off-limits, three people familiar with the matter said.
The move would effectively leave Iran -- which has seen its economy crushed by the loss of oil sales and most other trade thanks to existing American restrictions -- isolated from the global financial system, slashing the few remaining legal linkages it has and making it more dependent on informal or illicit trade.