US launches Operation Economic Outcast to isolate Iran

The United States on August 24, 2026, launched Operation Economic Outcast, a campaign of expanded secondary sanctions designed to isolate Iran by targeting countries and companies that continue doing business with Tehran.

Treasury Secretary Scott Bessent said the measures broaden secondary sanctions risk in five sectors: digital assets, technology, gold, aviation and shipping. These are areas Iran has used to generate revenue, evade earlier restrictions or mitigate pressure.

The Office of Foreign Assets Control sanctioned nearly 60 entities, individuals and vessels involved in illicit procurement of nuclear and missile technology, cyber operations and oil revenue generation. Bessent stated that economic engagement of any kind with the Iranian regime would expose those responsible to the full reach of American power.

President Donald Trump has been contacting world leaders to urge them to cut ties with Iran. Bessent framed the effort as an economic D-Day after earlier military actions had dismantled significant Iranian military capabilities and weakened its nuclear programme.

Iran faces a choice between complete isolation and a subsistence economy or a path back to normal commercial relations, according to the Treasury statement. The new determinations accelerate pursuit of those who facilitate Iranian oil smuggling or sanctions evasion.

China, a major buyer of Iranian oil, has called on the United States to act rationally. India, which continues limited energy trade with Iran, was among the partners noted in coverage of the warning.

The campaign comes amid ongoing tensions in the region and follows earlier secondary sanctions. Bessent emphasised that no one is above the reach of US sanctions and that the goal is to sever every remaining economic lifeline sustaining the regime.