US threatens sanctions over Iran rupee payments

The Trump administration has issued a new threat of sanctions against countries that continue to hold Iranian money in their bank accounts. The warning appears to directly target India's established rupee-based Vostro account system, which it uses to pay Iran for oil and other goods. This move escalates U.S. financial pressure on Iran by attempting to cut off alternative payment channels that circumvent the dollar. It follows the recent non-renewal of a sanctions waiver that had allowed such transactions.