Treasury Secretary Scott Bessent announced a new economic war against Iran dubbed Operation Economic Outcast.
“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 enablers,” Bessent said on Monday. “In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions, including those in third countries. Today, in that same spirit, we are launching an economic onslaught against Iran.”
The Treasury Secretary explained the economic war will use sanctions in an effort to cut Iran off from its trading partners. “Treasury has mapped every node, every facilitator, and every network that Iran has used to smuggle oil and evade sanctions.” He continued, “Beginning today, the actions of Treasury and other agencies will tighten the noose and block every potential source.”
He said the President and other top officials are reaching out to nations around the world, giving them specific demands to end trade with Iran. Bessent said the US will target five Iranian sectors: digital assets, technology, gold, aviation, and shipping.
Last week, President Donald Trump said he would take actions to stop all international trade with Iran.
“I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY! This will be Economic Warfare and Isolation on an unprecedented scale,” the President wrote on Truth Social Wednesday. “I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences.”
He continued, “This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate and defeat the Iran threat. These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide.”
Trump’s increased focus on economic war against Iran comes as the US is low on several munitions, including long-range missiles and interceptors.
The President appears to believe that increasing economic pressure on Iran will force Tehran to comply with his demands. However, Tehran has proven resilient throughout the conflict and could look to exert more pressure on Washington by stepping up attacks on its allies.
