U.S. launches 'Operation Economic Outcast' targeting Iran's financial lifelines

The U.S. Treasury Department has initiated a significant economic pressure campaign against Iran, dubbed "Operation Economic Outcast." This move signals a ramped-up effort by the Trump administration to isolate Iran financially and cut off its access to global markets.

Treasury Secretary Scott Bessent announced the operation, stating its goal is to "block all options" available to the Iranian regime. The campaign will employ secondary sanctions, targeting third-country companies and financial institutions that engage in transactions with Iran. These measures could include exclusion from the U.S. dollar payment system, effectively crippling their international financial activities.

The focus of the new sanctions will be on five key sectors that serve as Iran's financial "lifelines": digital assets, technology, gold, aviation, and shipping. Bessent indicated that President Trump has already contacted world leaders, urging them to cease dealings with Iran. The Treasury's Office of Foreign Assets Control (OFAC) is reportedly preparing sanctions against over 60 Iranian-related entities, individuals, and vessels.

Bessent emphasized that the U.S. intends to give Iran "minimal breathing room" to rebuild its capacity for sponsoring terrorism. He warned that no country would be exempt from these measures, including China, and that any entity facilitating money laundering for Iran would be excluded from the dollar system. The announcement was described as a "warning shot," giving entities a chance to rectify their behavior before swift and decisive action is taken.