US Unleashes Economic Blitz Against Iran in Sweeping Campaign
The US government has launched 'Operation Economic Outcast', a sweeping economic campaign against Iran. The move extends secondary sanctions on Tehran and targets its revenue lifelines, aiming to sever every economic lifeline that sustains the regime.
US Treasury Secretary Scott Bessent revealed the economic measures against Iran on Monday, warning Tehran's allies and international companies that continuing commercial ties with the country would invite severe financial penalties and total isolation by Washington.
The US Department of Treasury's Office of Foreign Assets Control (OFAC) has hit nearly 60 individuals, entities, and vessels in the fresh round of new sanctions. The primary targets are Iran's highly valued oil trade, including international companies that operate within Iran's oil sector and enable movement and sale of Iranian crude and petroleum products.
The US agency has designated a network of shipping companies, brokers, and shadow fleet vessels operating across various regions to transport Iranian oil. Three vessels and their owners have been sanctioned for facilitating transactions on behalf of the Islamic Revolutionary Guard Corps (IRGC).