US sanctions Chinese entities, issues global warning on ‘Economic D-Day’ against Iran

The United States has intensified its economic campaign against Iran, launching Operation Economic Outcast to sever all economic ties with the Tehran regime. Treasury Secretary Scott Bessent announced nearly 60 entities, individuals, and vessels would be sanctioned, targeting five key sectors: digital assets, technology, gold, aviation, and shipping.

Secondary sanctions, imposed on third parties for engaging with Iran, impose penalties on those who do business with the sanctioned nation. Bessent warned that any economic engagement with Iran exposes individuals to the full reach of American power. The campaign aims to isolate Iran economically until it stands alone, with countries urged to join in the effort.

Bessent emphasized that no one is above the reach of U.S. sanctions and called for a "zero-leakage" approach. The Secretary stressed that U.S. efforts will tighten the noose and block revenue sources supporting the Iranian regime and the Islamic Revolutionary Guard Corps. Countries with business ties to Iran are given a defined timeline to cease activities, with unilateral actions by Treasury authorities if they fail to comply.