US Targets Iran's Digital Economy in Broad Sanctions Campaign
The US Treasury Department has launched a new economic sanctions campaign against Iran, targeting five key sectors of its economy. Under 'Operation Economic Outcast', Secretary Scott Bessent announced expanded secondary sanctions on digital assets, technology, gold, aviation, and shipping.
The administration warned that any entity or nation facilitating transactions or laundering funds for Iran will be cut off from the US dollar system. Over 60 targets were hit, including individuals, entities, and vessels involved in oil smuggling and technology procurement.
Bessent also explicitly warned that a major financial institution is expected to face sanctions this week. The move is part of a policy pivot towards maximum financial isolation of Iran.