US Treasury Secretary Scott Bessent unveiled « Operation Economic Outcast » on August 24, a sweeping sanctions campaign targeting nearly 60 entities, individuals, and vessels across digital assets, shipping, gold, aviation, Iran’s oil revenue networks, and its nuclear and missile procurement operations. Countries that fail to sever ties with Iranian entities within defined timelines face exclusion from the dollar system. Over 80% of Iran’s oil exports currently flow to Chinese buyers, making Chinese financial institutions the most obvious targets of heightened scrutiny. The initiative also targets Iran’s use of cryptocurrency to circumvent traditional financial sanctions.
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