US launches ‘Operation Economic Outcast’ to cut Iran’s economic lifeline

The Trump administration is escalating economic pressure on Iran, targeting foreign banks, companies and intermediaries accused of helping Tehran generate revenue. Treasury Secretary Scott Bessent says the “Operation Economic Outcast” campaign will target the networks supporting Iranian oil exports and could eventually cut non-compliant businesses off from the US financial system. The Treasury has sanctioned nearly 60 entities and expanded the threat of secondary sanctions to shipping, aviation, gold, technology and digital assets. China, Iran’s largest oil buyer, is likely to face particular scrutiny as Tehran continues using middlemen, foreign banks and a shadow fleet to circumvent sanctions. Bessent says countries and companies have been given a chance to change course, but warned those that do not comply could “leave the dollar system”. Al Jazeera’s Eva McKend reports from Washington, DC. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X: https://X.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.news/AJEMobile #DonaldTrump #Iran #UnitedStates #TrumpIranThreat #IranWar #StraitOfHormuz #HormuzCrisis #WarOnIran #OperationEconomicOutcast #USIranAttacks #IranSanctions #USNavalBlockadOnIran