CBS News
Treasury Secretary Scott Bessent on Monday announced Operation Economic Outcast, the Trump administration’s ramped-up push to use economic tools to reopen the Strait of Hormuz and end the war with Iran.
“Today, 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. “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’s financial connections around the globe.”
The operation expands the categories for secondary sanctions on entities and countries that transact with Tehran and also introduces new sanctions across a variety of vital sectors, including digital assets, gold, aviation, technology and shipping.
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