US Launches Operation Economic Outcast Sanctions Against Iran

U.S. Treasury Secretary Scott Bessent launched Operation Economic Outcast, a campaign of expanded secondary sanctions designed to isolate the Iranian regime. Described as an economic D-Day, the initiative extends penalties beyond traditional finance to include the shipping, gold, and cryptocurrency sectors.

The sanctions coincide with severe economic instability in Iran, where the rial hit a record low of 2.02 million per U.S. dollar. These measures have triggered elevated market volatility as traders evaluate potential knock-on effects for global oil supplies and market liquidity.

Parallel to the economic campaign, the Trump administration is managing geopolitical tensions in the Strait of Hormuz. President Donald Trump claimed that mines have been removed from international waters in the region, as the U.S. continues to apply pressure on the Iranian government.