Uploaded August 2026 | Updated September 2026, 2 weeks ago
Treasury Secretary Scott Bessent on Monday announced “Operation Economic Outcast,” a sweeping new sanctions campaign targeting Iran’s global financial and trade links in what the Trump administration has called an “economic D-Day.”
“At President Trump’s direction, the United States Treasury has begun Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its neighbors,” Bessent said.
Trump last week said any country allowing its financial institutions, businesses, airports or government entities to provide Iran with “any type of lifeline” would face “tremendous economic consequences.”
Bessent compared the effort to the World War II D-Day campaign, saying the administration would target Iran’s financial connections “around the globe” with the objective of severing “every economic lifeline” sustaining the government “until Tehran stands alone.”
The Treasury Department issued new sectoral sanctions determinations targeting five areas Bessent described as Iran’s most vital foreign lifelines: digital assets, technology, gold, aviation and shipping. He said the measures broaden the risk of secondary sanctions for entities that continue doing business with Iran.
Treasury’s Office of Foreign Assets Control also sanctioned more than 60 entities, individuals and vessels that Bessent said help Iran procure nuclear and missile technology, conduct cyber operations or generate oil revenue.
Bessent said the administration has not publicly named the countries or entities it is pressuring, nor disclosed their deadlines to comply. But he said the U.S. is using “quiet diplomacy” to tell governments its expectations and warned that those that do not act will face consequences.
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Treasury Secretary Scott Bessent on Monday announced “Operation Economic Outcast,” a sweeping new sanctions campaign targeting Iran’s global financial and trade links in what the Trump administration has called an “economic D-Day.”
“At President Trump’s direction, the United States Treasury has begun Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its neighbors,” Bessent said.
Trump last week said any country allowing its financial institutions, businesses, airports or government entities to provide Iran with “any type of lifeline” would face “tremendous economic consequences.”
Bessent compared the effort to the World War II D-Day campaign, saying the administration would target Iran’s financial connections “around the globe” with the objective of severing “every economic lifeline” sustaining the government “until Tehran stands alone.”
The Treasury Department issued new sectoral sanctions determinations targeting five areas Bessent described as Iran’s most vital foreign lifelines: digital assets, technology, gold, aviation and shipping. He said the measures broaden the risk of secondary sanctions for entities that continue doing business with Iran.
Treasury’s Office of Foreign Assets Control also sanctioned more than 60 entities, individuals and vessels that Bessent said help Iran procure nuclear and missile technology, conduct cyber operations or generate oil revenue.
Bessent said the administration has not publicly named the countries or entities it is pressuring, nor disclosed their deadlines to comply. But he said the U.S. is using “quiet diplomacy” to tell governments its expectations and warned that those that do not act will face consequences.
_______________
Stay up to date with our social media:
facebook.com/KOMONews
twitter.com/komonews
instagram.com/komo4
tiktok.com/@komo4seattle
Download our iOS App: itunes.apple.com/us/app/komo-news-mobile/id433508161?mt=8
Download our Android App: play.google.com/store/apps/details?id=com.newssynergy.komo&hl=en
Have a news tip? Send it directly to us:
Email us: tips@komonews.com
Call the Newsroom: 206.404.4000
KOMO News (ABC 4) provides the latest breaking news, sports, weather, traffic, and local event coverage in the Seattle and Western Washington/Puget Sound area, including Bellevue, Redmond, Renton, Kent, Tacoma, Bellingham, Yakima, and surrounding communities.
This video and all Sinclair Broadcast Group content archives of local news and sports coverage are available for your use. For more information, contact us at contentsales@sbgtv.com
#komo #komonews #komo4 #komo4news #seattle #seattlenews #washingtonnews
