US treasury secretary announces ‘onslaught’ of sanctions to isolate Iran from world economy

Finance August 25, 2026 12:03 AM

In his remarks, Bessent says that today, at Donald Trump’s direction, the United States Treasury “has begun Operation Economic Outcast”, which he described as an “unprecedented campaign” against Iran “and its enablers”.

“We are launching an economic onslaught against Iran’s financial connections around the globe,” he said. “Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.”

US treasury secretary announces ‘onslaught’ of sanctions to isolate Iran from world economy

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