US Launches Economic Blockade Against Iran Amid Fears of Chinese Blowback

The US government has launched 'Operation Economic Outcast' to choke off Iran's economic lifelines. Treasury Secretary Scott Bessent announced that any country maintaining economic ties with Iran will face strong US sanctions.

The operation targets countries trading with Iran in cryptocurrency, technology, gold, aviation, and shipping. The US believes Iran has been generating revenue in these sectors by evading existing sanctions.

Bessent stated that Washington had identified every link, facilitator, and network Iran uses to smuggle oil and bypass restrictions. Over 60 entities, individuals, and vessels worldwide have been newly designated for sanctions.

The US is also warning countries not to help Iran launder money, stating that any institution involved will be cut off from the dollar system. China, which buys about 90% of Iranian oil, has raised concerns about the effectiveness of secondary sanctions against major powers like itself.