OfficialDiplomacy & politicsWashington, D.C., United States
Treasury launches Operation Economic Outcast, widening secondary sanctions on Iran
- Mountain Time
- Local time
- 1:17 PM in New York
- Where
- Washington, D.C., United States
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 it 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.
Sources (13)
- The White Housewhitehouse.govPublished
- CBS Newscbsnews.comPublished
- Atlantic Councilatlanticcouncil.orgPublished
- Anadolu Agencyaa.com.trPublished
- CBS News live updatescbsnews.comPublished
- CBS News live updates (2)cbsnews.comPublished
- The Jerusalem Postjpost.comPublished
- Institute for the Study of Warunderstandingwar.orgPublished
- SmarTrade (Thompson Hine)thompsonhinesmartrade.comPublished
- Middle East Eyemiddleeasteye.net
- Cleary Foreign Investment and International Trade Watchclearytradewatch.comPublished
- The Times of Israeltimesofisrael.comPublished
- CBS News live updates (3)cbsnews.comPublished
Confidence: Stated by a named government, military, or institution. Not independently confirmed. About confidence labels
Corrections
- Corrected the headline (it read "Treasury launches Operation Economic Outcast against Iran"); revised the summary; revised the context note; updated the sourcing note; merged 4 duplicate entries into this one ("Bessent launches Operation Economic Outcast with secondary sanctions on Iran", "US Treasury launches Operation Economic Outcast targeting Iranian oil and shipping networks", "U.S. Treasury launches Operation Economic Outcast sanctions targeting Iran", "Netanyahu congratulates Trump on expanded Iran sanctions"); added 3 sources: Cleary Foreign Investment and International Trade Watch, The Times of Israel, CBS News live updates. Why and evidence
- Corrected the time from 6:17 PM New York time, Aug 24, 2026 to 1:17 PM New York time, Aug 24, 2026; corrected the headline (it read "U.S. Treasury launches Operation Economic Outcast sanctions campaign against Iran"); revised the summary; revised the context note; updated the sourcing note; merged a duplicate entry into this one ("U.S. launches Operation Economic Outcast targeting Iranian trade and financial networks"); added a source: CBS News live updates. Why and evidence