Treasury Launches Operation Economic Outcast Against Iran's Financial Networks

The U.S. Department of the Treasury has launched 'Operation Economic Outcast,' an economic campaign targeting Iran's financial networks, oil revenues, shipping operations, technology procurement, and other sources of support.

Treasury Secretary Scott Bessent said that the operation is designed to isolate the Iranian regime while increasing the risks for foreign governments, companies, and individuals that facilitate Iran-related activity.

The Treasury Department's Office of Foreign Assets Control (OFAC) has issued five sectoral sanctions determinations targeting areas used by Iran to sustain its economy, including digital assets, technology, gold, aviation, and shipping.

OFAC also sanctioned nearly 60 entities, individuals, and vessels across multiple jurisdictions over alleged involvement in Iran's nuclear and missile technology procurement, cyber operations, and oil revenue networks.