1 week ago
US Launches Operation Economic Outcast to Isolate Iran Economically
The United States has started a campaign to make it harder for Iran to earn money and obtain technology.
The campaign is called Operation Economic Outcast.
It focuses on businesses and networks connected to Iranian oil sales and other activities.
The United States will target digital assets, technology, gold, aviation and shipping.
More than 60 people, organizations and ships are being sanctioned.
US officials warned that companies and countries helping Iran could also be punished.
The campaign is meant to pressure Iran’s government by reducing its economic choices.
The announcement happened while the United States was also dealing with trade disagreements involving China and Canada.
The Trump administration launched Operation Economic Outcast to cut Iran’s international economic support.
US sanctions will target digital assets, technology, gold, aviation and shipping linked to Iran.
The Treasury Department is sanctioning more than 60 entities, people and vessels worldwide.
Scott Bessent warned countries and companies facilitating Iranian trade could face secondary sanctions.
The campaign comes amid fragile US-China ties and rising US-Canada trade tensions.
- Who
- The Trump administration, led in this effort by Treasury Secretary Scott Bessent, is targeting Iranian networks, businesses and facilitators.
- What
- The United States launched Operation Economic Outcast, a campaign of sanctions and international pressure intended to isolate Iran economically.
- Where
- The measures target networks, entities and vessels worldwide, with US officials engaging governments in other countries.
- When
- The campaign was announced on Monday; the articles do not provide a specific calendar date.
- Why
- Washington says the campaign will restrict Iran’s oil revenue, technology access and other sources of international economic support.
Key facts
- Campaign
- Operation Economic Outcast
- Lead US official
- Treasury Secretary Scott Bessent
- Targeted sectors
- Digital assets, technology, gold, aviation and shipping
- Initial sanctions
- More than 60 entities, individuals and vessels worldwide
- Enforcement approach
- The Treasury Department says it will pursue a “zero leakage” approach.
- Potential consequences
- Companies and financial institutions facilitating Iranian trade could face secondary sanctions.
- Related trade tensions
- The announcement came amid fragile US-China trade relations and deteriorating US-Canada trade talks.
Quotes
Scott Bessent
US Treasury secretary
“This is a sustained campaign to collapse every last option for Iran”
CNBC TV 18
Scott Bessent
US Treasury secretary
“An economic engagement of any kind with [a] murderous regime will expose those responsible to the full reach of American power”
CNBC TV 18
Scott Bessent
US Treasury secretary
“No one is above the reach of US sanctions”
CNBC TV 18
Sources
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