Claimed by U.S. Treasury Secretary Scott Bessent (US Military)

The U.S. Treasury Department announced an expanded sanctions package on April 3, designating 47 additional Iranian financial institutions and blocking all SWIFT access for Iranian banks, effectively cutting Iran off from the global dollar-clearing system.

Filed 4/3/2026

Verified

Neutral analysis

The sanctions designations are officially confirmed; their practical impact may be limited as Iran has developed alternative payment mechanisms and bilateral currency arrangements since 2018.

Verification notes

Treasury's OFAC published the full designation list on April 3. SWIFT confirmed in a statement that it was complying with U.S. sanctions and suspending access for designated institutions. This is consistent with maximum-pressure precedents from 2018-2020.

Supporting sources (3)

U.S. Treasury OFAC press release
SWIFT compliance statement
Wall Street Journal