US launches Operation Economic Outcast to target Iran’s financial networks

The US Treasury just fired what it’s calling an “economic D-Day” at Iran. On August 24, Treasury Secretary Scott Bessent unveiled Operation Economic Outcast, a sprawling sanctions offensive targeting five sectors Tehran relies on to fund its nuclear weapons program and dodge existing restrictions: digital assets, technology, gold, aviation, and shipping. The Office of Foreign Assets Control sanctioned over 60 entities, individuals, and vessels tied to Iranian oil smuggling, nuclear and missile procurement, and cyber operations. The message to the rest of the world is blunt: stop doing business with Iran, or face the consequences from Washington. What the operation actually does Operation Economic Outcast isn’t a single sanctions package. It’s a framework designed to expand the blast radius of secondary sanctions, meaning penalties that hit foreign companies and countries for transacting with Iran, not just Iranian entities themselves. Bessent described it as a “zero-leakage” strategy. The Treasury has mapped Iran’s financial networks and is now demanding that other nations cut ties within defined timelines. Countries that don’t comply risk unilateral US repercussions, a threat that...