Treasury Launches Operation Economic Outcast Against Iran

U.S. Treasury Secretary Scott Bessent announced on Monday the start of Operation Economic Outcast, a campaign designed to sever the remaining economic connections that support the Iranian government.

Speaking at a news conference, Bessent said the United States has mapped the networks Iran uses to sell oil, procure technology and move funds. The operation begins with fresh designations of more than 60 individuals, entities and vessels in countries including the United Arab Emirates, Hong Kong, China, Singapore and Switzerland. These parties are accused of helping Iran obtain nuclear and missile-related technology, generate oil revenue or conduct cyber operations.

Five new sectoral determinations expand secondary sanctions exposure for anyone dealing with Iranian digital assets, technology, gold, aviation and shipping. Bessent stated that continued economic engagement with the Iranian regime will expose the parties involved to the full reach of American power.

The announcement comes six months into a military confrontation that has left both sides in a stalemate. Iranian leaders have warned that support for the new sanctions by other nations will be treated as an act of war and have threatened to restrict alternative oil shipping routes if pressure intensifies.

Bessent framed the effort as an economic equivalent of D-Day, arguing that previous administrations managed the Iranian threat while the current one intends to end it. He said President Trump is contacting world leaders to request they cut remaining financial ties. Additional waves of sanctions, including on a major financial institution, are expected in coming days and weeks.

Iran’s currency has recently reached record lows against the dollar. Oil prices fell on Monday as markets weighed the prospect of tighter supply constraints. Tehran has publicly dismissed the measures, expressing confidence that major trading partners will resist the pressure.

The new rules broaden the categories of Iran-related conduct that can trigger secondary sanctions and accelerate enforcement timelines. Officials described a zero-leakage approach that leaves no breathing space for the regime to rebuild capacity.

Whether China, Russia and other buyers of Iranian oil will comply remains the central test of the campaign’s reach. Bessent declined to name specific banks or countries that face immediate action, saying the clock has started and patience is limited.