US Launches 'Economic Outcast' Campaign Targeting Third Countries Trading with Iran
The United States has launched an 'economic outcast' campaign targeting not only Iran but also third countries that maintain trade ties with Tehran, escalating its pressure on the country.
The U.S. Treasury Department unveiled the initiative, dubbed 'Operation Economic Outcast,' which designates entities and financial institutions trading with Iran in five sectors, digital assets, technology, gold, aviation, and shipping, as subject to secondary sanctions.
The initiative also adds more than 60 individuals, entities, and vessels supporting Iran's nuclear and missile development and oil exports to the sanctions list.
China is seen as a critical variable in the effectiveness of these measures, purchasing approximately 90% of Iran's crude oil exports. The U.S. stopped short of directly sanctioning Chinese banks.