US expands pressure: Bessent says entities aiding Iran's money laundering will be expelled from dollar system

The United States is escalating its economic pressure on Iran with the launch of "Operation Economic Outcast," aimed at severing the regime's financial lifelines and ending its involvement in regional conflicts. Treasury Secretary Scott Bessent announced that any entity facilitating money laundering for Iran will be expelled from the U.S. dollar system.

Bessent detailed that the Treasury Department has identified every node, facilitator, and network used by Iran for oil smuggling and sanctions evasion. Starting immediately, the department, in conjunction with other agencies, will block all potential revenue sources funding the Islamic Revolutionary Guard Corps and the Iranian regime. Teams from the Treasury, State Department, and U.S. military are engaging with global counterparts to enforce these expectations, with clear timelines set for countries to cease identified activities. Failure to comply will result in unilateral action by the Treasury Department.

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Any entity that represents Iran in assisting money laundering activities will be kicked out of the dollar system. The countdown has already begun.

"Any entity that represents Iran in assisting money laundering activities will be kicked out of the dollar system. The countdown has already begun," Bessent declared. The U.S. is also expanding secondary sanctions, targeting five key economic sectors Iran utilizes in other countries: digital assets, technology, gold, aviation, and shipping. These measures increase the risk of secondary sanctions for any party continuing to do business with the Iranian regime, accelerating U.S. efforts to track such transactions.

Responding to questions about potential actions against Chinese banks, Bessent emphasized that "no one can escape the scope of U.S. sanctions." He warned that individuals or entities assisting transactions and becoming part of the ecosystem that converts Iranian oil into funds for repression will be targeted. Additionally, President Trump is reportedly contacting world leaders to urge them to cease dealings with the Iranian regime, with widespread international action anticipated as U.S. diplomacy continues. The United Arab Emirates has been highlighted as a strong partner, recently suspending all trade and financial dealings with Tehran after an Iranian missile attack on UAE vessels.

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No one can escape the scope of U.S. sanctions.