Trump Administration Announces New Series of Sanctions Against Iran

by Curtis Jones
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Trump Administration Announces New Series of Sanctions Against Iran

Scott Bessent, secretary of the Treasury, unveiled what the administration describes as its most comprehensive assault to date on Iran’s economy. The plan, called Operation Economic Outcast, would sanction more than 60 entities that aid Iran’s nuclear and missile programs.

“Those who stand with the United States will reap the rewards of our partnership. Those who tether themselves to the Iranian regime should expect to share in the isolation of a withering regime.” “Chinese banks have often been talked about being targeted, but we don’t see any of those institutions targeted here. Is that something that is coming in this campaign?” “We want to make clear here today that no one is above the reach of U.S. sanctions, that if they facilitate transactions and are part of the ecosystem that turns Iranian oil into money, into repression, they will be targeted. We find that the best way to engage with countries is through quiet diplomacy.”

Scott Bessent, secretary of the Treasury, unveiled what the administration describes as its most comprehensive assault to date on Iran’s economy. The plan, called Operation Economic Outcast, would sanction more than 60 entities that aid Iran’s nuclear and missile programs.

By Jamie Leventhal

August 24, 2026

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