Treasury launches Operation Economic Outcast, widening secondary sanctions on Iran

Treasury Secretary Scott Bessent announced Operation Economic Outcast, adding Iran's digital asset, technology, gold, aviation and shipping sectors to those exposed to U.S. secondary sanctions, designating nearly 60 entities, individuals and vessels and suspending several general licenses. Bessent said any entity that launders money for Iran "will be removed from the U.S. dollar system."

Why this matters. The campaign moves U.S. pressure from strikes to foreign banks, shippers and trading partners; analysts say it hinges on China, which has refused to comply.