Treasury Secretary Scott Bessent on Monday unveiled a sweeping campaign of financial sanctions and diplomatic pressure designed to sever Iran’s remaining links to the global economy.
Dubbed “Operation Economic Outcast,” the initiative is aimed at closing loopholes in the existing U.S. financial dragnet. The Trump administration has repeatedly put sanctions on foreign companies involved in the oil trade that represents Iran’s principal source of revenue even as its military campaign against Tehran has flirted with stalemate.
