US Treasury convenes global financial institutions to advance Operation Economic Outcast

The US Treasury’s Financial Crimes Enforcement Network gathered global financial institutions in mid-September 2026 for a single purpose: help identify and choke off Iranian-linked revenue streams. The meeting represents the latest escalation in Operation Economic Outcast, the sweeping sanctions campaign Treasury Secretary Scott Bessent launched on August 24 with the stated goal of economically isolating Iran. If the operation’s nickname, “economic D-Day,” sounds dramatic, the scope backs it up. Roughly 78 designations were issued in the early phases alone, covering 24 individuals, 48 entities, and 6 vessels tied to Iranian activities, including those linked to the Islamic Revolutionary Guard Corps and oil smuggling operations. What Operation Economic Outcast actually does The campaign extends US secondary sanctions across five sectors: digital assets, technology, gold, aviation, and shipping. All of this falls under Executive Order 13902, a framework that gives Treasury broad authority to target foreign financial institutions facilitating transactions with Iran’s economy. On the aviation front, the Treasury’s Office of Foreign Assets Control sanctioned 36 aviation-sector targets a...