US Treasury Launches Economic Offense Against Iran's Financial Connections

The US Treasury launched 'Operation Economic Outcast' on August 24, imposing sanctions on nearly 60 individuals and entities, including five sectors in Iran: digital assets, technology, gold, aviation, and shipping.

Treasury Secretary Scott Bessent warned foreign businesses that continue dealing with Tehran will face expanded secondary sanctions exposure. He stated, 'In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions... Today, in that same spirit, we are launching an economic onslaught against Iran's financial connections around the globe.'

The push comes as Bitcoin reached $80,887 on Tuesday, its strongest level since mid-May, and has gained 27% in August. CryptoSlate previously reported that this rally is driven by a weaker dollar, increased long-term debt buybacks, renewed crypto optimism, and demand for alternative assets.