US Announces Launch of 'Economic Outcast' Operation Against Iran

The United States announced the launch of the “Economic Pariah” operation against Iran, in a broad campaign aimed at tightening the squeeze on the Iranian economy and cutting off funding sources for the regime, with a focus on the Islamic Revolutionary Guard Corps and the financial and oil networks linked to Tehran. U.S. Treasury Secretary Scott Bessent described the campaign as unprecedented, emphasizing that its goal is to sever the economic arteries that sustain the Iranian regime and isolate it from the global financial system. The campaign includes coordinated action by U.S. government agencies against Iran and entities that assist it in circumventing sanctions, with sanctions imposed on approximately 60 entities, individuals, and a ship linked to Tehran. The measures focus particularly on companies and ships involved in what is known as the “shadow fleet” used to transport and sell Iranian oil, in an effort to reduce oil revenues, which are among Tehran’s most prominent sources of foreign currency. Washington also decided to suspend general licenses that had allowed certain transfers and financial transactions with Iran, while simultaneously issuing warnings to countries and entities that facilitate the smuggling of Iranian oil or allow the use of their financial and banking institutions to circumvent sanctions. As part of expanding the campaign’s scope, U.S. President Donald Trump held communications with several world leaders, urging them to cut or reduce economic relations with the Iranian regime, as Washington seeks to shift pressure from targeting companies and individuals to pressuring countries that continue to engage economically with Tehran. Bessent affirmed that each country has a specific timeline to halt economic activities related to Iran, warning that entities continuing to provide financial or trade channels to Tehran may face U.S. sanctions. The Treasury Secretary revealed that the next phase will see sanctions imposed on a major financial institution due to its dealings linked to the Iranian regime, stressing that the scope of the measures will not exclude any country. He emphasized that “no one is immune from U.S. sanctions, including China,” indicating that Washington is increasingly targeting countries and markets that continue to purchase Iranian oil or provide economic channels to Tehran.