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[INTERNATIONAL] · United States, Iran, China, Switzerland, France · 22 sources

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US Treasury launches ‘Operation Economic Outcast’ to isolate Iran FAST-MOVING

US Treasury Secretary Scott Bessent has announced ‘Operation Economic Outcast,’ a major economic campaign designed to isolate Iran from the global financial system. The initiative aims to sever the regime’s remaining economic lifelines by targeting five key sectors: digital assets, technology, gold, aviation, and maritime shipping.

The Office of Foreign Assets Control (OFAC) has already sanctioned approximately 60 entities, including individuals, organizations, and vessels, linked to illicit activities such as nuclear and missile technology procurement, cyber operations, and oil revenue generation. The US has warned that any foreign entity facilitating money laundering or trade for the Iranian regime risks being excluded from the US dollar-based financial system.

Bessent indicated that the administration is providing a ‘cure period’ for foreign nations to cease dealings with Tehran before facing secondary sanctions, and expects to target a major foreign financial institution by the end of the week. In response, Iranian Economy Minister Ali Madanizadeh stated that the government has a two-year plan to manage the impact of these measures. China has also expressed opposition, stating that economic pressure does not solve problems and affirming its intent to protect its own interests.

Entities

Advanced Manufacturing Innovation District Scotland · Ali Madanizadeh · Buccleuch Property · Donald Trump · Estanica Trading Ltd · Iran · Office of Foreign Assets Control · Operation Economic Outcast · Renfrewshire Council · Scott Bessent · Scottish Enterprise · US Department of the Treasury

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about 7 hours ago