Washington – In a press briefing on Monday, Treasury Secretary Scott Bessent unveiled “Operation Economic Outcast,” a coordinated effort to broaden secondary sanctions against foreign countries, banks and other networks that provide economic lifelines to the Islamic Republic of Iran.
Sanctions target a wide range of support channels
Bessent described the initiative as an “economic D‑Day,” saying the United States will move to block every potential source of revenue that sustains Tehran’s regime. The plan calls for the removal of any person or entity that assists Iran in accessing digital assets, technology, gold, aviation services or shipping from the U.S. dollar system.
“Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” Bessent said. “Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system.”
Timeline and enforcement
The Treasury will issue a defined timeline for each targeted country or institution to cease Iran‑related activity identified by the agency. Bessent warned that “no one is above the reach of U.S. systems,” and that failure to comply will result in removal from the global financial network.
He added, “To those who enable Tehran: do not discount the cost of testing Washington’s resolve. No nation should expect to enjoy the rewards of our system while helping those who seek to destroy it.”
Impact on Iran and global markets
Iran has already felt a sharp economic contraction since the conflict began nearly six months ago, losing an estimated $435 million per day due to the Strait of Hormuz blockade. The Iranian rial now trades at roughly two million rial to one U.S. dollar.
The broader sanctions are expected to exacerbate Iran’s financial strain, while also affecting global commodity prices. Since the initial U.S.–Israeli strikes on February 28, jet fuel, crude oil and fertilizer costs have risen sharply, pushing U.S. gasoline prices to a four‑year high and increasing the price of consumer goods and airline tickets.
Military spending context
The Pentagon reports nearly $40 billion spent on operations in Iran, though independent analysts suggest the true cost may be double that figure. More than 770 U.S. service members have been injured and 18 have died, according to the Defense Casualty Analysis System.
“The campaign we begin today will gather force with every day that follows, and it will not end until this regime stands alone,” Bessent concluded.
What’s next
The Treasury will work with allied nations to enforce the new sanctions and monitor compliance. Companies and financial institutions are urged to review their exposure to Iranian transactions and to prepare for the upcoming deadlines.
Stakeholders are advised to consult the Treasury’s forthcoming guidance on prohibited activities and to seek legal counsel if they have questions about the expanded sanctions regime.
Original reporting: KTBS 3 (Shreveport) — read the source article.
