U.S. launches ‘Operation Economic Outcast’ against Iran
The U.S. Department of the Treasury has launched a sweeping economic pressure campaign against Iran, targeting nearly 60 individuals, entities and vessels linked to Tehran’s military activities, procurement networks and petroleum trade, reports a Qazinform News Agency correspondent.
Dubbed “Operation Economic Outcast,” the campaign aims to cut Iran off from sources of revenue and increase the risk of secondary sanctions for countries and companies continuing to conduct certain business with Tehran.
During a press conference U.S. Treasury Secretary Scott Bessent announced that at President Trump’s direction, the United States Treasury had begun Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its enablers.
According to the Treasury, the Office of Foreign Assets Control sanctioned nearly 60 entities, individuals and vessels across multiple jurisdictions for their alleged involvement in nuclear and missile technology procurement, cyber operations and oil revenue networks.
The Treasury also identified five sectors for increased sanctions exposure: digital assets, technology, gold, aviation and shipping. Several general licenses previously permitting certain remittance payments and Iranian access to U.S. cultural and academic programs were also suspended.
Bessent said Washington had mapped the networks Iran uses to smuggle oil and evade existing restrictions.
U.S. authorities said government teams are engaging countries around the world and asking them to halt identified Iran-related activities within specified timelines. Entities that continue facilitating sanctions evasion could be cut off from the U.S. financial system.
According to Bessent, those who stand with the United States will reap the rewards of its partnership. Those who tether themselves to Tehran should expect to share in the isolation of a withering regime.
Earlier, Qazinform News Agency reported that U.S. forces had redirected 70 commercial vessels, disabled three and boarded two others as part of efforts to enforce a U.S. blockade against Iran.