US sanctions Iran’s entire financial sector | Al Jazeera

The administration of United States President Donald Trump tightened the noose further around Iran’s beleaguered economy on Thursday, announcing a fresh round of sanctions that will effectively shut the country out of the global financial system.

On Thursday, the US Department of the Treasury announced it is blacklisting 18 major Iranian banks – 16 of which were targeted for “operating in Iran’s financial sector” – as well one bank controlled by a sanctioned Iranian bank and one the US Treasury says is affiliated with Iran’s military.