US Targets Global Financial Lifelines in Sweeping Sanctions on Iran

U.S. Treasury Secretary Scott Bessent unveiled 'Operation Economic Outcast', a sweeping new round of U.S. sanctions against Iran and its 'enablers' worldwide. The initiative targets networks, companies, vessels, and financial channels that help Iran generate and move revenue globally.

Bessent emphasized the administration's goal: to sever every economic lifeline sustaining the 'tyrannical regime' until Tehran stands alone. The sanctions aim at Iran's oil and gas revenue, aviation, digital assets, gold, technology, and shipping sectors, impacting nearly 60 Iran-linked individuals, entities, and vessels across multiple jurisdictions.

The Treasury Department announced that these measures expand the potential use of secondary sanctions against entities and countries conducting business with Tehran. Bessent noted that foreign governments and companies have time to change their dealings with Iran before some secondary sanctions take effect, although he declined to provide a specific timeline.