US Launches Operation Economic Outcast to Target Iran Trade

Bessent Announces Economic Onslaught

In his address, U.S. Treasury Secretary Scott Bessent said Washington officially unveiled the "Operation Economic Outcast," with a goal to sever Iran's financial links worldwide and to choke off the streams of revenue to support the regime in Iran. 

Bessent said, “The US Department of the Treasury has launched Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its neighbours.”

“During World War II, D-Day marked the historic beginning of a joint 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’s financial connections around the globe. Our goal is to sever every economic lifeline that sustains this tyrannical regime,” Bessent added.

“Iran now faces a clear choice, with only two paths before them: complete global isolation and a subsistence economy, or a path to normalcy with the opportunity to rejoin the global economy. Today we are launching Operation Economic Outcast to foreclose all other options available to the Iranian regime,” he added.

Ghalibaf Rejects US Economic Pressure

Iranian parliament speaker and chief negotiator Mohammad Bagher Ghalibaf retaliated to the US intensifying economic pressure, stating that the United States cannot expand its restriction over other countries' economic relationships with Iran.

Ghalibaf said, "Americans know that no one buys their bombast; the United States is not in an economic position to further restrict its relations with other countries." 

"Iran's trading partners, both in the media and through messages sent to us, have made it clear that they don't take these statements into account anywhere," he added.

US Targets Iranian Military Networks And Leaders

The United States targets include Iran’s oil trade, shipping network and military-backed groups such as its so-called "dark fleet" tankers and the international intermediaries who support Iran for the transportation of their oil and petrochemical products to the international market. They have also imposed sanction measures on top military officials and groups for their alleged role in enabling Iran's military operation and procurement.

“The United States will continue to disrupt, expose, and dismantle Iran’s military and proliferation activities, procurement schemes, malicious cyber operations, and illicit oil trade that sustains the regime’s malign behaviour,” the state department said.