US Treasury Secretary Scott Bessent announced « Operation Economic Outcast » on August 24, a sweeping sanctions package targeting over 60 Iranian entities, individuals, and vessels. The sanctions cover five sectors: digital assets, technology, gold, aviation, and shipping. Countries maintaining business relationships with Iran have been given a defined timeline to wind down operations or face potential exclusion from the US dollar system. The sanctioned entities were flagged for involvement in nuclear and missile procurement, cyber operations, and oil revenue generation. The campaign is part of a broader strategy of economic isolation that includes a US naval blockade on Iranian ports.
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