New US sanctions aim to choke Iran out of world economic order by targeting ‘enablers’

The Trump administration launched an economic pressure campaign on Monday aimed at isolating Iran from the global economy by expanding secondary sanctions against companies and financial institutions worldwide that do business with Tehran. Treasury Secretary Scott Bessent announced the broad initiative, known as "Operation Economic Outcast," which focuses on cutting Iran's financial connections around the globe.

The administration has warned that the measures would lead to an "economic asphyxiation" of the regime, with the Treasury Department stepping up secondary sanctions targeting five sectors that Iran uses to evade sanctions and generate revenue. These sectors include digital assets, technology, gold, aviation, and shipping. About 60 entities, individuals, and vessels have been sanctioned for supporting Iran's nuclear and missile programs, cyber operations, and oil revenue generation.

The US did not immediately impose blanket secondary sanctions on other countries, but Bessent stated that governments and companies would have a "cure period" to wind down their dealings with Iran. The United States also warned that China, which is estimated to purchase roughly 80% to 90% of Iran's crude oil exports, would face potential sanctions.

Iran responded with fury to the new measures, with Foreign Ministry spokesman Esmaeil Baqaei warning that any action escalating the situation would come at a cost and that countries joining the US economic sanctions would effectively be treated as having committed "an act of war."