Washington, August 24, 2026 (Yes Punjab News)
The United States has warned countries and companies involved in Iran-related activities to sever ties with Tehran or risk facing secondary sanctions, as Treasury Secretary Scott Bessent announced a new campaign aimed at isolating Iran from the global financial system.
Bessent said President Donald Trump had begun contacting foreign leaders with specific demands to end activities that Washington considers supportive of the Iranian government. Officials from the Treasury, State and War departments are following up with their counterparts.
“Every country has a defined timeline to shut down activities we have identified,” Bessent said, warning that the United States would act unilaterally through Treasury authorities if governments failed to comply. He declined to identify the countries involved or disclose the deadlines.
The campaign, named “Operation Economic Outcast”, seeks to sever what Washington describes as Iran’s remaining economic lifelines. The US has already sanctioned around 60 entities, individuals and vessels accused of helping Tehran generate oil revenue, procure nuclear and missile technology and conduct cyber operations.
Bessent said the administration was initially relying on diplomacy, giving governments and businesses an opportunity to end targeted activities before sanctions are imposed. He warned, however, that the period for compliance would be limited.
The measures also expand the scope of potential secondary sanctions to five sectors — digital assets, technology, gold, aviation and shipping. Banks, shipping companies and other entities accused of facilitating Iranian oil sales, financial transactions or sanctions evasion could face penalties.
Bessent warned that entities facilitating money laundering for Iran could be excluded from the US dollar system. He said Washington had identified foreign institutions helping Iran convert oil into revenue but preferred to begin with private diplomatic engagement.
The Treasury secretary said further sanctions were expected, including the possible targeting of a major financial institution before the end of the week. The campaign represents an escalation of Washington’s economic pressure on Tehran as the US seeks to cut off revenue streams supporting the Iranian regime.
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