US Launches Economic Campaign Against Iran Amid Military Stalemate

The US has announced Operation Economic Outcast, an economic campaign against Iran that's part of its whole-of-government effort to end what it calls 'the Iranian threat.' The operation expands secondary sanctions across five areas of the Iranian economy: digital assets, technology, gold, aviation, and shipping.

Washington hasn't imposed a comprehensive ban on all trade with Iran. Instead, these new sectoral determinations provide legal grounds for future enforcement, allowing the US administration to selectively impose penalties on foreign companies conducting transactions with Iranian counterparts.

The State Department's Rewards for Justice program has renewed its offer of up to $10 million for information on senior IRGC leaders and associated members of the Iranian establishment.

China remains a major challenge for American pressure, as it imported an average of around 1.38 million barrels of Iranian oil per day in 2025, accounting for more than 80% of Iran's seaborne oil exports. Washington has already sanctioned individual Chinese technology suppliers and smaller refiners but hasn't targeted China's largest banks.

The US is building a mechanism for sustained pressure against Tehran's foreign partners, but the economic offensive comes after nearly six months of inconclusive military action that imposed significant costs on both sides.