US Targets Global Financial Ties with Iran in New Economic Pressure Campaign

Treasury Secretary Scott Bessent has warned countries to cut financial ties with Iran or face being isolated from the US dollar system, a move dubbed 'Operation Economic Outcast'. The campaign aims to restrict Iran's access to international finance and trade, following six months of military stalemate between Iran and the US. Bessent said President Trump is making calls to world leaders to sever ties with Tehran, but refused to name specific countries or provide timelines for action.

The Treasury Department has expanded its authority to sanction individuals and entities operating in key sectors of the Iranian economy, including digital assets, technology, gold, aviation, and shipping. New sanctions have also been imposed on 60 entities and individuals linked to Iran's nuclear and missile technology programs.

Bessent emphasized that no country is above the reach of US sanctions, but suggested that some progress has already been made behind the scenes. The US aims to persuade countries to cooperate with its economic pressure campaign, rather than imposing immediate penalties.