USA24 August, 20263 min read
US Launches Operation Economic Outcast to Cut Iran’s Economic Lifeline, Targets Digital Assets, Gold, Shipping
Operation Economic Outcast aims to sever Iran’s global revenue streams, including oil. Scott Bessent announced sweeping sanctions targeting Iran’s financial networks and economic lifelines.
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US targets Iran’s lifelines
The United States launched “Operation Economic Outcast” to cut Iran’s economic lifeline, with Treasury Secretary Scott Bessent saying the campaign aims to “sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.” Bessent said the US would target all of Iran’s sources of revenue, including oil, and warned that countries and entities that “facilitate transactions and are part of the ecosystem that turns Iranian oil into money, into repression, they will be targeted.” The US Treasury announced the campaign would target “five of Iran’s most vital lifelines”: digital assets, technology, gold, aviation and shipping, and it imposed fresh sanctions on 60 entities, vessels and individuals across the world.
The sanctions push came nearly six months into the war with Iran, after the US and Israel launched strikes against Iran in February, and with Tehran responding with missile and drone attacks across the region. Pentagon chief Pete Hegseth said on Monday that Iran cannot handle the economic pressure and that Tehran will have “no choice” but to return to the negotiations table to discuss its nuclear programme.
China warns of escalation
China warned that the new US economic sanctions on Iran “will only heighten tensions,” with Foreign Ministry spokesperson Mao Ning saying “economic warfare and the so-called maximal pressure policy will not help resolve the issue.” Mao Ning added that “China is closely monitoring the relevant developments and will take all necessary measures to firmly safeguard its rights and interests,” while urging that Chinese cooperation with Iran should not be obstructed. In response to the US campaign, Iranian Parliament Deputy Speaker Ali Nikzad told a public session of Parliament that his country will respond to the economic pressures the United States is applying against Tehran and that it “will defend its security and national interests strongly.”
Nikzad said, “Our delusional enemies talk about a complete economic blockade,” and warned that if pressure on the Iranian people’s livelihoods and economy increases, “we will not allow the enemies of this people and the countries cooperating with them to live in ease.” The Anadolu Ajansi report also said the US Treasury announced the launch of the “Economic Pariah Operation” on Monday, aimed at isolating Iran completely from the global financial system.
Secondary sanctions and regional stakes
The US campaign explicitly threatens secondary penalties for third parties, with Bessent saying “no one is above the reach of US sanctions” and that if countries and entities “facilitate transactions and are part of the ecosystem that turns Iranian oil into money, into repression, they will be targeted.” Euronews reported that the US Treasury said it issued decisions against five critical sectors—digital assets, technology, gold, aviation, and maritime transport—and framed the choice for Iran as “a very clear choice.” Euronews also quoted Bessent warning that “Any entity that facilitates money laundering on behalf of Iran will be excluded from the U.S. dollar system,” tying the campaign to access to the US financial system.
The conflict’s energy chokepoint remained central, with the Al Jazeera report saying Tehran has largely shut down and asserted control over the Strait of Hormuz and sent oil and gas prices soaring. In parallel, the LaSexta roundup said the US will sanction 60 entities linked and take measures against five secondary sectors, while Iran warned it is “fully prepared” for the sanctions and does not rule out further US strikes during the economic offensive.