On Friday, August 7th, 2026, the Trump administration announced its eighth round of Iran-related sanctions targeting Iran's banking system and companies across multiple countries. The Treasury Department identified these entities as laundering hundreds of millions of dollars to support Iran's regime.

Treasury Secretary Scott Bessent stated, "Every facilitator that keeps the regime afloat is putting a target on its own back." The sanctions specifically designate Shahr Bank and two Dubai-based exchange houses, Titan Exchange and Alps International, which reportedly helped Shahr Bank retrieve oil revenue for major Iranian exporters, including the National Iranian Oil Company and Naftiran Intertrade Co. Titan Exchange allegedly held tens of millions of dollars on behalf of Shahr Bank and is linked to a financier previously sanctioned for aiding a separate sanctions-evasion network.

State Department spokesperson Tommy Pigott said the measures aim to "cut the financial lifelines that sustain Iran's ruling elite."

These sanctions are part of the administration's broader effort to use economic tools to pressure Iran into reopening the Strait of Hormuz and to bring an end to the ongoing war, which the administration initially expected to last four to six weeks.

Regarding the negotiations, President Trump commented on Thursday, August 6th, 2026, that "we're doing fine" and a deal could be announced "soon."

Richard Escobedo, who covers economic policy at CBS News and is a graduate of Texas Christian University, reported on the developments.

Sources