US Treasury Announces New Sanctions Targeting Iran's Revenue Streams
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Treasury Secretary Scott Bessent said the United States will expand sanctions to cut off Iran's oil, digital assets, technology, gold, aviation and shipping, warning secondary penalties for foreign firms that facilitate transactions.
U.S. Treasury Secretary Scott Bessent announced on Monday a new sanctions campaign aimed at Iran's sources of revenue, including oil, digital assets, technology, gold, aviation and shipping. The initiative, called “Operation Economic Outcast,” is intended to deter foreign companies and governments from doing business with Tehran by threatening secondary penalties.
"Around the globe, our objective is to sever every economic lifeline that sustains this regime until Tehran stands alone," Bessent said, adding that no entity is beyond the reach of U.S. sanctions.
The Treasury Department listed 60 entities, vessels and individuals in jurisdictions such as the United Arab Emirates, Hong Kong, China, Singapore and Switzerland as targets for facilitating Iranian transactions. Bessent said the United States is giving partners an opportunity to avoid penalties by ending such activities.
Iranian Foreign Minister Abbas Araghchi dismissed the measures, stating that economic sanctions are a familiar tactic and do not represent a new solution. Analysts noted the sanctions follow months of military strikes by the United States and Israel that have not altered Iran's governing structure, and that the pressure aims to compel concessions on Iran's nuclear program and regional attacks.
The United States has previously imposed a blockade on Iranian ports, which officials say has impacted oil exports but has not achieved the desired political outcomes. The new sanctions represent the latest effort to increase economic pressure after earlier diplomatic and military actions failed to resolve the crisis.