U.S. Treasury Secretary Scott Bessent has announced a sweeping new economic pressure campaign against Iran, calling it “Operation Economic Outcast.” The initiative aims to cut off Iran’s remaining financial and trade channels and increase pressure on Tehran to change its policies.
Bessent said the United States intends to sever what he described as Iran’s economic lifelines and warned countries and companies that continue doing business with Tehran that they could face consequences from Washington. The campaign expands the use of sanctions beyond Iranian entities themselves, putting greater pressure on international businesses and governments that maintain economic ties with Iran.
The latest measures target a range of sectors connected to Iran’s economy, including shipping, aviation, technology, gold, digital assets and oil-related networks. Washington has also warned that stronger secondary sanctions could be imposed on entities that continue facilitating Iranian trade.
Bessent has presented the campaign as a choice for Tehran: accept continued economic isolation or move toward reintegration with the global economy. The Trump administration has described the broader strategy as an “economic D-Day.”
The announcement comes as Iran faces severe economic pressure. Its currency, the rial, fell to a record low on Monday, while tensions surrounding the Strait of Hormuz continue to create risks for global energy markets.