US Treasury Halts Personal Remittances to Iran Amid Trump-Initiated Sanctions Campaign

The US Treasury Department has indefinitely suspended five general licenses that allowed Americans to send non-commercial money transfers to or from Iran, effective August 24.

This move is part of 'Operation Economic Outcast,' a broad economic pressure campaign initiated by President Trump aimed at crippling the Iranian regime's financial infrastructure and procurement networks.

The suspension targets Section 31 CFR 560.550, which had served as the legal backbone for family remittances and other personal financial transfers involving Iran.

Anyone with pending transactions has until September 8 to wind things down under a temporary authorization called General License BB.