Republican Senators Push for Sanctions on Iran’s Entire Financial Sector

Police officers wearing face masks guard the US Capitol Building in Washington, US, May 14, 2020. (Reuters)
Police officers wearing face masks guard the US Capitol Building in Washington, US, May 14, 2020. (Reuters)
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Republican Senators Push for Sanctions on Iran’s Entire Financial Sector

Police officers wearing face masks guard the US Capitol Building in Washington, US, May 14, 2020. (Reuters)
Police officers wearing face masks guard the US Capitol Building in Washington, US, May 14, 2020. (Reuters)

A group of Republican senators petitioned US President Donald Trump to press forward with a set of new sanctions on the entirety of Iran’s financial sector.

According to Executive Order No. 13902, the US Secretary of State and Treasury is allowed to impose sanctions on more sectors of the Iranian economy.

The six senators, led by Tom Cotton, have written to Trump urging him to sanction the entirety of Iran’s banking sector, which is still connected to SWIFT, the primary correspondence and fund transfer global system among banks.

In addition to Cotton, the letter was co-signed by Sens. John Cornyn, Ted Cruz, Marco Rubio, Rick Scott and Thom Tillis.

The letter published on Cruz’s website praised the Trump administration approach to the Iranian regime, and called on him to intensify pressure on Tehran to force it to sit at the negotiating table.

The letter added: “At least 14 Iranian banks remain open and connected to the SWIFT financial messaging network for sanctions-free financial transactions, providing the regime a crucial economic lifeline.”

They informed the White House that these banks may be used by the Central Bank of Iran “as fronts for its activities.”

They stressed the need to target these banks with sanctions, indicating that Iran would be cut off from the global financial system entirely, and the regime's ability to fund its malign regional influence would be even further diminished.

Trump is expected to sign an executive order imposing sanctions to punish anyone who violates the arms embargo imposed on Iran, which is expected to take effect on Sunday.

Meanwhile, The New York Times reported that Iran abandoned plans it had a year ago to deliver an election season surprise this fall.

The newspaper explained that despite recent pressures on Iran, accusing it of plotting to assassinate US diplomats, punishing the Ministry of Intelligence and cyber espionage companies, preparing unilateral sanctions and condemning its interference in the US elections, Tehran backed away from its plans.

NYT cited US officials as saying that among the operations that Iran could have carried out an attack on Gulf shipping or Middle Eastern oil production intended to shock global financial markets and hurt Trump’s chances of re-election.

Iran recalculated after the pandemic devastated the world economy, making any sort of attack on oil production ineffective.

Iran also believes that any strike beyond cyberattacks would benefit Trump, allowing him to rally his base and give the United States an opportunity for a military response, according to US, allied and Iranian officials, reported NYT.

The Trump administration presented Iran as a threat to the fall election similar to Russia, an assessment that intelligence officials and outside experts say is wrong.

Intelligence officers reported Iranian leaders have concluded that restraint is the best way to prevent Trump's re-election, referring to statements attributed to supreme leader Ali Khamenei in which he demanded the adoption of “strategic patience.”

Iranian leaders are convinced that the United States and Israel are running operations against them, according to allied officials briefed on intelligence. But they have held back on major retaliation.



Iran's Judiciary Says at Least 71 Killed in Israel's Attack on Tehran's Notorious Evin Prison

In this picture obtained from the Iranian judiciary's news agency Mizan Online on June 25, 2025, rescuers sift through the rubble inside the Evin prison complex in Tehran that was hit days ago by an Israeli strike. (Mostafa Roudaki/mizanonline/AFP via Getty Images) 
In this picture obtained from the Iranian judiciary's news agency Mizan Online on June 25, 2025, rescuers sift through the rubble inside the Evin prison complex in Tehran that was hit days ago by an Israeli strike. (Mostafa Roudaki/mizanonline/AFP via Getty Images) 
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Iran's Judiciary Says at Least 71 Killed in Israel's Attack on Tehran's Notorious Evin Prison

In this picture obtained from the Iranian judiciary's news agency Mizan Online on June 25, 2025, rescuers sift through the rubble inside the Evin prison complex in Tehran that was hit days ago by an Israeli strike. (Mostafa Roudaki/mizanonline/AFP via Getty Images) 
In this picture obtained from the Iranian judiciary's news agency Mizan Online on June 25, 2025, rescuers sift through the rubble inside the Evin prison complex in Tehran that was hit days ago by an Israeli strike. (Mostafa Roudaki/mizanonline/AFP via Getty Images) 

At least 71 people were killed in Israel’s attack on Tehran’s Evin prison, a notorious facility where many political prisoners and dissidents have been held, Iran's judiciary said on Sunday.

Judiciary spokesperson Asghar Jahangir posted on the office’s official Mizan news agency website that those killed on Monday included staff, soldiers, prisoners and members of visiting families. It was not possible to independently verify the claim.

The June 23 attack, the day before the ceasefire between Israel and Iran took hold, hit several prison buildings and prompted concerns from rights groups about the safety of the inmates.

Jahangir did not break down the casualty figures but said the attack had hit the prison's infirmary, engineering building, judicial affairs and visitation hall, where visiting family members were killed and injured.

On the day of the attack, New York-based Center for Human Rights in Iran criticized Israel for striking the prison, seen as a symbol of the Iranian regime's repression of any opposition, saying it violated the principle of distinction between civilian and military targets.

At the same time, the group said Iran was legally obligated to protect the prisoners held in Evin, and slammed authorities in Tehran for their “failure to evacuate, provide medical assistance or inform families” following the attack.

Jahangir said some of those injured were treated on site, while others were sent to hospitals.

Iran had not previously announced any death figures, though on Saturday confirmed that top prosecutor Ali Ghanaatkar — whose prosecution of dissidents, including Nobel Peace Prize winner Narges Mohammadi, led to widespread criticism by human rights groups — had been killed in the attack.

He was one of about 60 people for whom a massive public funeral procession was held on Saturday in Tehran, and he was to be buried at a shrine in Qom on Sunday.

Israel attacked Iran on June 13 in a bid to destroy the country's nuclear program.

Over 12 days before a ceasefire was declared, Israel claimed it killed around 30 Iranian commanders and 11 nuclear scientists, while hitting eight nuclear-related facilities and more than 720 military infrastructure sites. More than 1,000 people were killed, including at least 417 civilians, according to the Washington-based Human Rights Activists group.

In retaliation, Iran fired more than 550 ballistic missiles at Israel, most of which were intercepted, but those that got through caused damage in many areas and killed 28 people.