The United States has intensified its economic pressure on Iran, warning countries and entities maintaining identified business ties with Tehran that they will be given a defined period to wind down those activities or face potential US sanctions.
US Treasury Secretary Scott Bessent announced the campaign on Monday, describing it as an “economic onslaught” aimed at cutting off the financial and commercial networks that continue to provide revenue to Iran.
“We are launching an economic onslaught against Iran’s financial connections around the globe,” Bessent said, adding that Washington’s objective was to sever the economic channels sustaining the Iranian regime.
Bessent said President Donald Trump was contacting foreign leaders with specific requests to stop activities involving Iran that Washington has identified as supporting Tehran. He did not disclose the timelines for individual countries but warned that the United States would not wait indefinitely for compliance.
“We do not have infinite patience here,” Bessent said.
The campaign, known as Operation Economic Outcast, expands the potential reach of US secondary sanctions beyond existing measures. Washington has identified digital assets, technology, gold, aviation and shipping as sectors that Iran uses to generate revenue, evade sanctions or maintain economic links with the outside world.
The Treasury Department also announced sanctions against nearly 60 individuals, entities and vessels linked to Iranian oil smuggling, sanctions evasion, illicit procurement of nuclear and missile technology and cyber operations. The targets include brokers, companies and vessels operating across several jurisdictions, including the United Arab Emirates, Hong Kong, Singapore, Switzerland, Europe and China.
The warning could have particular significance for China, which has remained a major buyer of Iranian oil. Asked whether Chinese financial institutions involved in Iranian oil transactions could be targeted, Bessent said no country was beyond the reach of US sanctions.
The intensified economic campaign comes as Washington seeks to increase pressure on Tehran while efforts to resolve the conflict and reopen the Strait of Hormuz remain uncertain. The waterway is a critical route for global energy supplies, making any disruption to oil flows a major concern for international markets.
Bessent said the new measures were intended to give countries and companies an opportunity to correct their Iran-related activities before sanctions are imposed. He nevertheless indicated that enforcement would move quickly, including a planned announcement involving a major financial institution before the end of the week.
The move marks a further escalation in Washington’s attempt to isolate Iran economically, shifting greater pressure onto Tehran’s trading partners and the financial networks that facilitate its access to international markets.
