United States sanctions nearly 60 Iran-linked entities and vessels under Operation Economic Outcast

The US Treasury Department dropped one of its most expansive Iran-related sanctions packages to date, designating nearly 60 entities, individuals, and vessels in a coordinated campaign dubbed “Operation Economic Outcast.” The action, announced on August 24, represents a sharp escalation in Washington’s economic pressure strategy against Tehran, with new sectoral sanctions reaching into digital assets, technology, gold, aviation, and shipping. Treasury Secretary Scott Bessent led the initiative, which targets networks tied to the Islamic Revolutionary Guard Corps (IRGC) and Iran’s Ministry of Intelligence and Security (MOIS). The full scope of new designations reportedly totals 78: 24 individuals, 48 entities, and 6 vessels, all added under Executive Order 13902. From oil tankers to crypto wallets Among the most consequential designations is Ivan Obukhov, a UAE-based individual accused of facilitating Iranian military oil shipments. Obukhov allegedly processed over $100 million in cryptocurrency payments since 2023. The Treasury also went after an MOIS-directed cyber group that reportedly hacked US infrastructure and generated approximately $16.8 million in illicit proceeds. That ac...