U.S.-Iran War: Treasury Launches ‘Operation Economic Outcast’ to Isolate Iran Economically
Highlights
- The U.S. Treasury Department has launched the Operation Economic Outcast campaign.
- Treasury Secretary Scott Bessent stated that the purpose is to sever every economic lifeline that sustains Iran.
- Bitcoin is trading above $79,000 despite this latest escalation in the U.S.-Iran war.
The U.S. Treasury Department has launched the ‘Operation Economic Outcast’ campaign in the latest escalation in the U.S.-Iran war. Bitcoin remained largely unchanged amid this development as the leading crypto looks to break above the psychological $80,000 level.
Treasury Launches Operation Economic Outcast Campaign
In a press release, the Treasury Department announced that it had initiated the economic campaign against Iran and its enablers at President Trump’s direction. “Today, in that same spirit, we are launching an economic onslaught against Iran’s financial connections around the globe,” the release read.
This follows Treasury Secretary Scott Bessent’s statement about the “Economic D-Day” for Iran, which he declared as the endgame as the U.S. moves to cripple Iran’s economy. Commenting on the Operation Economic Outcast Campaign, Bessent explained that their objective is to “sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.”
He added that they are taking action to end the Iranian threat and that those who stand with the U.S. will reap the rewards of their partnership. On the other hand, Bessent stated that those who tether themselves to Tehran should expect to share in the isolation of a “withering regime.”
As part of the Operation Economic Outcast campaign, the Treasury Department said that it has mapped the networks, facilitators, and financial channels that Iran uses to smuggle oil, evade sanctions, and fund terror. “The Iranian regime faces a clear choice: severe global isolation or a path to reintegration with the global economy,” the Treasury said.
U.S. To Target Iran Through The Crypto Sector
The U.S. Treasury said it will sanction people who help Iran through the crypto sector. The Department noted that through the Operation Economic Outcast campaign, OFAC can sanction anyone, regardless of location, who operates in the crypto sector of the Iranian economy.
“The Iranian regime increasingly turns to cryptocurrency as a tool of choice for sanctions evasion, supporting transactions linked to the Islamic Revolutionary Guard Corps (IRGC) and Iranian regime insiders,” Treasury said. Other sectors of the Iranian economy that the U.S. plans to target include technology, gold, aviation, and shipping.
Bitcoin is trading around $79,000 amid this latest escalation in the U.S.-Iran war. The leading crypto fell earlier as President Trump announced fresh tariffs against Canada but has since recovered, rallying to an intraday high of $80,000.
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