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[POLITICS] · United States, Iran, Iraq, Lebanon, United Arab Emirates · 9 sources

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US Treasury launches Operation Economic Outcast against Iran networks

The US Treasury Department has expanded its economic pressure on Iran through ‘Operation Economic Outcast’. This campaign targets global financial networks used to fund the Islamic Revolutionary Guard Corps (IRGC), missile programs, and cyberattacks.

The Office of Foreign Assets Control (OFAC) has sanctioned numerous individuals and entities across Iraq, Lebanon, the United Arab Emirates, and Turkey. These targets include those providing financial support to Hezbollah and Kata'ib Hezbollah, as well as shell companies in the UAE and Iraq that supply weapons to the IRGC Quds Force. Additionally, the sanctions hit gold exchange managers and currency exchange networks linked to Syria and Turkey.

In a major escalation, the Treasury has also sanctioned 27 Iranian airlines and nine related entities for their role in transporting personnel and weapons for the IRGC. This action includes the suspension of aviation authorizations involving US-origin aircraft.

Treasury Secretary Scott Bessent emphasized that the operation aims to ‘collapse networks that sustain the Iranian regime’. Furthermore, the Treasury announced it will now assume a ‘rejection’ stance on most special license requests related to Iran, except in exceptional circumstances. Separately, a US citizen has agreed to pay a $1.4 million fine for violating sanctions by providing consulting services to an Iranian software company.

Entities

Hezbollah · IRGC Quds Force · Islamic Revolutionary Guard Corps · Office of Foreign Assets Control · Scott Bessent · US Department of the Treasury · US Treasury Department

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