U.S. Treasury Secretary Scott Bessent announced that the United States will impose sanctions on another bank this week as part of its effort to increase economic pressure on Iran amid stalled truce negotiations.

The Treasury has expanded its campaign, Operation Economic Outcast, which previously sanctioned nearly 60 individuals and entities the Treasury said were involved in helping Iran generate oil revenue, procure weapons and conduct cyber operations. Iranian Finance Minister Ali Madanizadeh said the sanctions would fail.

Bessent declined to name the bank in an Associated Press interview but said the next step may involve cutting the institution off from the dollar‑based financial system.

Violence resumed on Sunday when Iran launched missiles at two U.S. bases in Jordan after a U.S. strike on Larak Island in southern Iran, the first such attack since late July.

Bessent will host the Group of 20 finance leaders meeting in Asheville, North Carolina, and plans to meet with counterparts from major and developing economies to encourage cooperation against Iran.

He also said he would discuss possible sanctions with Chinese officials, noting that all options remain on the table, and rejected suggestions that the United States is reluctant to confront China.

Bessent noted that the United States and China agree on reopening the Strait of Hormuz and preventing Iran from developing a nuclear weapon.

The G20 meeting may shape further sanctions or diplomatic initiatives related to Iran.