US announces ‘economic D-day’ sanctions on Iran

The United States has unveiled a major economic campaign against Iran, described by Treasury Secretary Scott Bessent as the country's "economic D-day." The sanctions, dubbed "Operation Economic Outcast," aim to choke Iran's financial resources across the globe, including its oil revenue, in an effort to isolate the regime until it stands alone.

Bessent emphasized that no one is immune to US sanctions, warning that entities facilitating transactions with Iran will face penalties. Unlike previous sanctions, this campaign does not target major international economic institutions. Bessent likened this push to the Allies' forces landing on French soil during World War II to demonstrate the severity of the threat.

The new sanctions target five key areas of Iran's economy: digital assets, technology, gold, aviation, and shipping, along with 60 individuals, vessels, and entities accused of aiding the regime's activities. The move comes as part of US efforts to pressure Iran to make concessions, such as abandoning its nuclear program and ceasing attacks on vessels in the Strait of Hormuz.