US Unveils Sweeping Sanctions to Isolate Iran Economically

The United States on Monday, August 24, 2026, unveiled sweeping new sanctions aimed at economically isolating Iran and cutting off its international trading partners, a campaign Treasury Secretary Scott Bessent described as an "economic D-Day" and the "single greatest financial offensive ever marshaled against an adversary." The measures, formally named Operation Economic Outcast, represent a significant escalation in the months-long conflict between Washington and Tehran.

Speaking at a press conference, Bessent said the objective was to "sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone." He announced a "zero leakage" approach targeting five key sectors: digital assets, technology, gold, aviation, and shipping. The Office of Foreign Assets Control sanctioned nearly 60 individuals, entities, and vessels globally that officials accused of enabling Iran to generate oil revenue, purchase military technology, or conduct cyber operations. Bessent stated that countries and entities facilitating business with Iran would face secondary sanctions and potential removal from the U.S. dollar financial system.

The announcement follows weeks of...