Seoul: The United States has intensified its economic pressure on Iran by broadening the scope of anti-Iran secondary sanctions, targeting nearly 60 entities, individuals, and vessels. This move is part of a newly launched campaign titled "Operation Economic Outcast," aimed at cutting off every economic avenue for the Tehran regime.
According to Yonhap News Agency, Treasury Secretary Scott Bessent unveiled the initiative at a press conference, emphasizing five key sectors-digital assets, technology, gold, aviation, and shipping-subject to secondary sanctions. These sanctions are designed to penalize third parties engaging economically with Iran, a strategy that extends to countries such as China.
Bessent affirmed that any form of economic engagement with Iran will subject the involved parties to comprehensive U.S. sanctions. He declared the campaign as a rigorous effort to disrupt Iran's financial connections globally, aiming to isolate the regime economically until it stands alone.
The secretary urged international cooperation, warning that countries associating with Iran risk facing the consequences of its isolation. He described the five targeted sectors as critical to Iran's economic survival and warned that the broadened sanctions risk will hasten enforcement against those continuing business with Iran.
President Trump is reportedly reaching out to global leaders, urging them to cease interactions with Iran, while U.S. Treasury and State Department teams, alongside military counterparts, are engaging with allied nations to enforce these measures. Bessent underscored the urgency for countries to comply with U.S. timelines to shut down identified activities, threatening unilateral U.S. action if they fail to do so.
Additionally, the U.S. Office of Foreign Assets Control has sanctioned entities facilitating Iran's nuclear and missile technology procurement, cyber operations, and oil revenue networks. It also suspended some general licenses, affecting remittances and access to U.S. cultural and academic systems for Iranians, and issued guidance on sanctions risks associated with the Strait of Hormuz.