Trump administration announces ‘economic D-day’ sanctions on Iran
U.S. Treasury Secretary Scott Bessent has launched 'Operation Economic Outcast,' a new campaign of intensified sanctions against Iran. The policy aims to isolate Tehran by threatening secondary penalties against any international entities that facilitate Iranian trade, particularly in the oil sector.
Why it matters
This aggressive economic strategy signals a major escalation in U.S. efforts to cripple the Iranian economy and forces global businesses to choose between U.S. market access and Iranian trade.
Treasury Secretary Scott Bessent says US sanctions will intensify to choke off Iran’s revenues and isolate the country.
x whatsapp-stroke copylink google Add Al Jazeera on Google info US Treasury Secretary Scott Bessent speaks during a press conference to outline further sanctions against Iran at the Treasury Department, August 24 [Evelyn Hockstein/Reuters] By Al Jazeera Staff Published On 24 Aug 2026 24 Aug 2026 US Treasury Secretary Scott Bessent has announced an economic pressure campaign against Iran, vowing to target Tehran’s financial interests across the world.
Bessent said on Monday that the US would target all of Iran’s sources of revenue, including oil, with the aim of preventing other countries and companies from doing business with Tehran.
“Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” he said.
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