US Launches Economic D-Day Against Iran

Treasury Secretary Scott Bessent announced a new set of sanctions against Iran on August 24, 2026, describing them as 'an economic D-Day.' The campaign, called Operation Economic Outcast, aims to sever Iran's financial connections around the globe.

Bessent compared the effort to the World War II D-Day campaign, saying the administration would target Iran's most vital foreign lifelines: digital assets, technology, gold, aviation, and shipping. He said the measures broaden the risk of secondary sanctions for entities that continue doing business with Iran.

The Treasury Department issued new sectoral sanctions determinations targeting five areas Bessent described as Iran's most vital foreign lifelines. The administration also sanctioned more than 60 entities, individuals, and vessels that help Iran procure nuclear and missile technology, conduct cyber operations, or generate oil revenue.