Trump Threatens Correspondent Banking Links With New Iran Sanctions

The U.S. threatened to cut off foreign financial institutions from U.S. correspondent banking networks on Monday night as President Donald Trump issued sweeping new sanctions against Iran’s leaders.

Trump signed an executive order on Monday taking aim at Iran’s Supreme Leader Ayatollah Khamenei and his inner circle, after weeks of rumblings in the Persian Gulf peaked when Iran shot down a U.S. military drone last week.

The measures block any U.S. property owned by Khamenei, as well as any government official appointed by him, any official appointed by one of his appointees and any entity they control.

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