The Trump administration has targeted Bank Melli, Iran’s largest lender, again as part of Operation Economic Outcast, seeking to eliminate the bank’s ability to operate abroad. Treasury Secretary Scott Bessent said every foreign branch must be shut down and warned that countries doing business with Iran would face punishment. Bank Melli has endured waves of sanctions for at least 20 years, including U.S. financial penalties after Washington accused it in 2007 of funding Tehran’s nuclear and missile programs. The United Nations, the European Union and countries around the world have also acted against the bank over its suspected use of foreign front companies to finance illicit activities. Despite the latest demand, an employee who answered the phone at Bank Melli’s Dubai branch in the United Arab Emirates confirmed on Tuesday that it was open for business.