US Launches New Campaign to Isolate Iran Financially

The United States is once again turning to economic pressure in its campaign against Iran, seeking to further squeeze Tehran's oil revenues and trade. Operation Economic Outcast, a new campaign aimed at isolating Iran financially, was announced this week by Treasury Secretary Scott Bessent.

Economic pressure on Iran has been intense, with the country's Central Bank saying oil exports have stopped, the rial having fallen to a record low, and the International Monetary Fund expecting the economy to contract 6.1% this year.

The US is targeting Iran's access to foreign currency, which it can use for imports, by blocking its foreign currency reserves. The Treasury Secretary said Washington wants 'to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.'