US Launches Economic Outcast: Sanctions Campaign Puts Iran in a Corner
The United States has launched Operation Economic Outcast, a sanctions campaign aimed at severing Iran's financial connections worldwide. US Treasury Secretary Scott Bessent presented the operation as a choice between complete global isolation and a subsistence economy or rejoining the international economy under Washington's terms.
Iranian President Masoud Pezeshkian has accused the United States of relying on coercion rather than negotiation, calling for a change in tone to facilitate dialogue. Pakistan is trying to keep diplomacy alive by meeting with Iranian officials and seeking a middle ground.
The sanctions target nearly 60 individuals, entities, and vessels accused of supporting Iran's military procurement, cyber operations, and petroleum trade. The operation also pursues Iran's 'shadow fleet', a network of tankers, vessel managers, and intermediaries disguising the origin and movement of Iranian petroleum.
US Defence Secretary Pete Hegseth has warned that America is 'by no means' ruling out fresh strikes around Iran or in the Strait of Hormuz. Israeli Prime Minister Benjamin Netanyahu has applauded the economic squeeze, saying it 'justly exacts a steep price from that cruel dictatorship and from those who assist its continued aggression'. However, this support complicates diplomacy as Tehran presents American pressure as part of a joint US-Israeli attempt to force regime change.