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Economic Pariah begins
The United States launched Operation 'Economic Pariah' to cut "all of Iran's economic options," with Scott Bessent saying the Treasury has identified "all nodes, facilitators, and networks that Iran has used to smuggle oil and evade sanctions."
“Operation 'Economic Pariah' to cut "all of Iran's economic options"”
Bessent warned that "no one is exempt" from indirect sanctions for negotiating with the Iranian regime, as the measures were described as targeting Iran’s revenue sources almost six months into the war.
Al-Jazeera Net said the operation was launched under President Donald Trump’s directions and included companies and ships linked to what Washington calls Iran’s 'Shadow Fleet' in the United Arab Emirates, Hong Kong, China, Singapore, and Switzerland.
Al-Jazeera Net also said the penalties affected 60 entities and individuals and a ship connected to Iran in the fields of nuclear energy, missiles, and oil, as the Treasury framed it as part of a broader campaign targeting Tehran’s activities.
Threats and counter-threats
Iran warned it would respond harshly to expanded U.S. sanctions, with Esmail Baghaei telling reporters, "Any escalation of this situation will undoubtedly bring about consequences," and adding, "Our hands are not tied."
The BBC reported that Washington threatened Iran with what it termed the "largest financial war in history" as it prepared to impose economic sanctions Monday targeting Iran’s commercial partners.
In the same BBC account, Iran threatened it would suspend all oil exports from the Gulf "if the economic war continues," while the U.S. Treasury Secretary Janet Yellen was set to hold a press conference at 1:00 p.m. Eastern Time.
The Associated Press also said Iran would see any country’s support for the sanctions as an "act of war," with the new head of Iran’s top security body warning Sunday that Tehran would treat cooperation with Washington that way.
Pressure on shipping and allies
The Associated Press said the United States has not dislodged Iran’s grip on the Strait of Hormuz, through which a fifth of the world’s traded oil passed before the war started nearly six months ago, while Iran demanded reopening the strait by lifting the U.S. naval blockade and withdrawing U.S. forces.
“through which a fifth of the world’s traded oil passed before the war started”
BBC coverage added that Washington urged other governments, including Beijing, to join in efforts to isolate Iran’s economy, but China criticized the initiative, saying U.S. sanctions would not resolve the conflict and would "only exacerbate tensions and escalate the situation."
Al-Jazeera Net said the U.S. Treasury Secretary warned that any military action targeting U.S. forces or Gulf states would be met with a direct and decisive response from President Trump, tying the sanctions push to broader pressure.
In the same Al-Jazeera Net report, it said the campaign also included a diplomatic push as Mnuchin said the American president is in contact with world leaders to sever economic ties with Iran, while the U.S. Treasury described the sanctions as expanding financial isolation to include any country that serves as a financial lifeline for Iran.