US launches 'Operation Economic Outcast' to pressure Iran's economy

The United States is intensifying its economic campaign against Iran, introducing "Operation Economic Outcast" as a new strategy to isolate the regime. This operation expands secondary sanctions, targeting countries, companies, and entities that conduct business with Iran. Treasury Secretary Scott Bessent stated the objective is to "sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone."

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Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.

The strategy involves increasing threats against nations and businesses dealing with Iran, aiming for voluntary disengagement. Targets include purchasers of Iranian oil, shipping companies, exchange houses, and banks facilitating Iranian transactions. Bessent indicated that countries and entities ignoring sanction-evasion tactics, such as mid-sea oil transfers, will also face repercussions.

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It is an economic onslaught against Iran's financial connections around the globe.

While the US is initially urging global partners to cease economic ties with Iran, Bessent did not name specific countries or leaders involved in these requests. He warned that those who refuse US demands "should expect to share in the isolation of a withering regime." The operation will specifically target five key sectors of the Iranian economy: digital assets, technology, gold, aviation, and shipping. The US has already sanctioned nearly 60 entities, individuals, and vessels linked to Iran's nuclear and missile programs, cyber operations, and oil revenue generation.

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Every country has a defined timeline to shut down activities we have identified.