Story perspectives

Treasury Launches Operation Economic Outcast, Expanding Iran Sanctions

8/24/2026

Summary

Story summary

Treasury Secretary Scott Bessent announced Operation Economic Outcast to expand secondary sanctions on Iran.
The Treasury listed 60 targets—individuals, entities, vessels—covering digital assets, gold, technology, aviation, shipping.
UAE halted about $28 billion of bilateral trade with Iran until further notice.
Iran’s national security adviser Mohsen Rezaei warned of “earthquake-like” retaliation if the United States adds sanctions.
Treasury officials froze an estimated $500 billion in Iran-linked cryptocurrency as part of the sanctions push.

1 of 1

Story summary

Treasury Secretary Scott Bessent announced Operation Economic Outcast to expand secondary sanctions on Iran.
The Treasury listed 60 targets—individuals, entities, vessels—covering digital assets, gold, technology, aviation, shipping.
UAE halted about $28 billion of bilateral trade with Iran until further notice.
Iran’s national security adviser Mohsen Rezaei warned of “earthquake-like” retaliation if the United States adds sanctions.
Treasury officials froze an estimated $500 billion in Iran-linked cryptocurrency as part of the sanctions push.