U.S. seeks to make Iran an ‘economic outcast’ with new sanctions, pressure

The United States is intensifying its pressure campaign against Iran, with Treasury Secretary Scott Bessent announcing a new round of sanctions designed to make the Islamic Republic an "economic outcast." Bessent warned all nations conducting business with Iran to cease financial ties immediately or face U.S. retaliation.

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Why would I want to blow up the global financial system?

This move follows President Donald Trump's recent pledge to unleash an "economic D-Day" against Tehran. The administration's strategy aims to cut Iran off from the global economy. Bessent explained the U.S. is giving countries an opportunity to shift away from Iran before imposing secondary sanctions, stating, "Why would I want to blow up the global financial system?"

Dubbed "Operation Economic Outcast," the campaign involves President Trump making direct calls to world leaders with specific requests to halt interactions with Iran. Bessent indicated these efforts have already yielded results, citing the UAE's recent suspension of all trade, commercial exchanges, and financial transactions with Iran as a significant development.

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We are level-setting with every country to tell them our expectations. We know who they are. They know who they are. So when the hammer of U.S. Treasury actions falls upon them, they will have no one to blame but themselves.

Despite Iran's parliamentary Speaker Mohammad Bagher Qalibaf asserting that Iran's trading partners do not heed U.S. statements, Bessent made it clear that no country is beyond the reach of U.S. sanctions. He specifically addressed potential actions against China, Iran's largest trade partner, stating, "If they facilitate transactions and are part of the ecosystem that turns Iranian oil into money, into repression, they will be targeted."

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The UAE decision was 'not a coincidence.'

The announcement provided few details on which countries might face secondary sanctions, but Bessent asserted that "They know who they are." The U.S. Treasury actions are intended to further pressure an Iranian economy already weakened by previous penalties and a U.S. naval blockade.

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Iran’s trading partners, both in the media and through messages sent to us, have made it clear that they don’t take these statements into account anywhere.