US imposes new Iran-related sanctions as Trump says talks with Tehran are going well

Summary

On Friday, the US Treasury imposed new Iran-related sanctions on eight entities based in Canada, according to a notice on its website, while President Donald Trump said his administration was in talks with Iranian representatives and that 'we are doing very well with Iran.' In a separate move the same day, the Treasury blocked US banks from dealing with MEXC Global, a Seychelles-registered cryptocurrency exchange that it accused of handling at least $16bn in illegal transactions linked to Iran, North Korea and Russia. On Thursday, the Treasury had sanctioned companies and individuals in India and Turkey accused of helping Iran evade restrictions on its oil exports and airlines, and Treasury Secretary Scott Bessent said Washington would keep pursuing anyone supporting Tehran. The Straits Times describes the Canadian designations as part of a broader US push to isolate Tehran's economy, dubbed Operation Economic Outcast.

Timeline

1. Middle East Eye

   6 Nov 2026, 20:11 UTCSource ↗

   Middle East Eye reports that the US Treasury imposed new Iran-related sanctions on eight Canada-based entities on Friday, as Trump said talks with Iranian representatives were going 'very well'.

2. The Straits Times

   6 Nov 2026, 21:03 UTCSource ↗

   The Straits Times reports that the US Treasury sanctioned eight Canadian companies over Iran-related transactions, as part of a renewed push dubbed Operation Economic Outcast to isolate Tehran's economy.