Threatens severe sanctions against countries with economic ties to Iran

The US treasury launched “Operation Economic Outcast,” threatening severe sanctions on any country or entity that maintains economic ties with Iran. Treasury Secretary Scott Bessent said the campaign aims to sever Iran’s “economic lifelines” and compared it with the D-day Normandy landings. He told reporters that no one is beyond the reach of US sanctions, warning that entities facilitating transactions connected to Iranian oil money could be targeted. Bessent said the US has identified violators and will set deadlines to cut ties or face sanctions themselves, with requirements that any entity aiding money laundering on Iran’s behalf be removed from the US dollar system. The plan’s reach to China remains uncertain, despite China buying about 80% of Iran’s shipped oil last year. Iran vowed retaliation, including possible land, sea, air or cyber actions.