US Treasury Unleashes 'Operation Economic Outcast' Against Iran

The US Treasury has unveiled 'Operation Economic Outcast', a sweeping sanctions campaign targeting Iran's economic lifelines and foreign networks. This initiative, announced by Treasury Secretary Scott Bessent on August 24, aims to sever every economic connection between Iran and the global economy.

The new sanctions span five sectors: digital assets, technology, gold, aviation, and shipping. Over 60 entities, individuals, and vessels have been hit in this significant sanctions package. The US has given countries maintaining business relationships with Iran a defined timeline to wind down operations or face potential exclusion from the US dollar system.

Bessent emphasized that 'no one is above the reach of U.S. sanctions', highlighting the increasing 'mappability' of Iran's evasion networks. This suggests the Treasury believes its intelligence capabilities have caught up with tactics involving shell companies, flag-of-convenience shipping, and cryptocurrency.