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US launches 'Operation Economic Outcast' to block Iran's income sources
🇵🇾 Paraguay /Economy & Trade

US launches 'Operation Economic Outcast' to block Iran's income sources

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • The U.S. Treasury Department launched 'Operation Economic Outcast' to cut off Iran's economic lifelines and increase pressure through sanctions.
  • The operation targets digital assets, technology, gold, aviation, and maritime transport, warning that any entity doing business with Iran risks secondary sanctions.
  • The U.S. is coordinating with international partners to enforce these measures, threatening unilateral action against nations that do not comply.

The United States has initiated "Operation Economic Outcast," a sweeping sanctions campaign aimed at severing all economic ties Iran has with the rest of the world. U.S. Treasury Secretary Scott Bessent announced the operation, stating its goal is to "cut off every economic lifeline that sustains the regime."

The Treasury Department has identified all the nodes, facilitators, and networks that Iran has used to smuggle oil and evade sanctions.

— Scott BessentDuring the press conference announcing 'Operation Economic Outcast'.

Bessent detailed that the operation will target five critical sectors: digital assets, technology, gold, aviation, and maritime transport. He emphasized that "no one is exempt" from indirect sanctions for engaging with Iran, warning that businesses dealing with the Iranian regime will face the full weight of U.S. power. The Treasury Department has identified all nodes, facilitators, and networks Iran has used to smuggle oil and evade sanctions.

These measures expand the risk of secondary sanctions for anyone foolish enough to continue doing business with this regime, and will accelerate the speed with which we act against them.

— Scott BessentExplaining the implications of the new sanctions.

"These measures expand the risk of secondary sanctions for anyone foolish enough to continue doing business with this regime, and will accelerate the speed with which we act against them," Bessent stated. U.S. Treasury, State Department, and military officials are meeting with international counterparts to convey that the U.S. expects concrete actions. Bessent warned that countries have a defined deadline to end the identified activities, or the U.S. will act unilaterally. He also announced new sanctions against over sixty entities, individuals, and vessels globally that enable Iran's illicit nuclear and missile technology acquisition, cyber operations, and oil revenue generation.

No country has a defined deadline to end the activities we have identified. If they do not act, we will act unilaterally.

— Scott BessentWarning international partners about compliance with U.S. demands.

The intensified economic pressure comes nearly six months into the war launched by the U.S. and Israel against the Islamic Republic, amidst stalled peace talks. The U.S. Navy also maintains a naval blockade on Iranian coasts and ports, exacerbating the economic situation in Iran, which had previously disrupted traffic through the Strait of Hormuz, impacting global crude oil supply.

Let there be no ambiguity about the United States' stance: any kind of economic relationship with this murderous regime will expose those responsible to the full weight of American power.

— Scott BessentStating the U.S. position on economic ties with Iran.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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