The Trump administration has unveiled a new campaign to pressure Iran by threatening sanctions against countries that continue significant economic ties with Tehran.
Treasury Secretary Scott Bessent announced “Operation Economic Outcast,” which would use secondary sanctions to target Iran's trading partners and restrict their access to the U.S. financial system.
Iranian officials have warned that countries participating in the U.S. economic campaign could be considered parties to an “act of war” and threatened to halt oil exports through the Persian Gulf.
Analysts caution that the strategy could have unintended consequences, including higher oil prices and further disruption to global shipping. The potential impact on major Iranian trading partners such as China and India remains uncertain.
Diplomatic efforts are continuing, with officials from Pakistan and Oman seeking to revive negotiations and address the dispute over the Strait of Hormuz.
Related Tweet:
Treasury Secretary Bessent threatens new sanctions on countries that refuse to cut economic ties with Iran but stopped short of imposing big penalties. Follow live updates. https://t.co/ziVTBoLzSP pic.twitter.com/5ARArsTKOr
— CNN (@CNN) August 24, 2026
Also Read:
Power & Capital Desk
