The Islamic Republic of Iran is entering the late rounds of an increasingly desperate fight to stave off economic collapse amid President Trump’s maximum pressure campaign. To land a 12th-round economic knockout, it’s time for Mr. Trump to throw one more punch: Blacklist the entire Iranian financial industry. While the U.S. Treasury has imposed sanctions on the Central Bank of Iran and many other Iranian financial institutions—and forced their disconnection from the Swift financial messaging network—at least 14 Iranian banks...

Source: Wall Street Journal August 25, 2020 22:30 UTC