Photo courtesy of Anadolu
The United States launched a sweeping sanctions campaign aimed at cutting Iran off from the global financial system, US Treasury Secretary Scott Bessent announced Monday.
Dubbed “Operation Economic Outcast,” the campaign targeted key sources of Iranian revenue and international commerce, including aviation, shipping, gold, technology and digital assets. Bessent said President Donald Trump directed the new measures.
More than 60 entities, individuals and vessels worldwide were being blacklisted as Washington expanded the risk of secondary sanctions against foreign parties that continue doing business with Tehran.
Bessent said the campaign would focus heavily on networks involved in converting Iranian oil exports into revenue. US authorities had mapped facilitators and financial channels allegedly used by Tehran to move oil and evade existing restrictions, he added.
Washington also pressed its partners to shut down identified Iranian activities within specified timelines. Bessent said US Treasury, State Department and military officials were coordinating with counterparts overseas as part of the effort.
The Treasury chief warned that entities facilitating money laundering for Tehran could lose access to the US dollar system. He also signaled that another major sanctions announcement involving a financial institution could come later in the week.
Bessent described the campaign as an effort to leave Iran with virtually no room to rebuild revenue streams, calling it an “economic D-Day” and saying Washington was pursuing a “zero leakage approach.”
The latest financial offensive came as the Trump administration intensified pressure on Tehran alongside military measures, with Washington seeking to further restrict Iran’s access to international trade and financing.