Treasury Secretary Scott Bessent on Monday threatened to impose new sanctions against countries financially supporting Iran as the war approaches its six-month mark.

The initiative, which federal officials have dubbed Operation Economic Outcast, specifies five new areas that can be subject to secondary sanctions: digital assets, technology, gold, aviation and shipping.

“Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” Bessent said in a statement announcing the measures.

“Those who stand with the United States will reap the rewards of our partnership,” he continued. “Those who tether themselves to Tehran should expect to share in the isolation of a withering regime.” 

The Office of Foreign Assets Control, housed within the Treasury Department, also announced sanctions on nearly 60 people and entities that it accused of supporting Iran, among other actions. Several of those targeted are from China, Iran’s largest purchaser of oil, which accounts for 90% of its exports. Other countries impacted include several European nations, including Switzerland, as well as the United Arab Emirates, which announced last week it would halt trade and financial transactions with Iran after Tehran fired two ballistic missiles targeting the UAE.

The announcement does not clarify when countries must come into compliance to avoid being sanctioned, though it says each country will have a distinct deadline.

Bessent told reporters he would “expect that very quickly, if they do not respond, then you will see the ramifications of their actions.” But he refused to set any firm timelines, only saying the administration does “not have infinite patience.”

Monday’s action also targeted entities connected to Iran’s transshipment of oil and weaponry, raising questions about whether the U.S. naval blockade is effectively stopping Iranian exports from leaving the region. Additionally, weaponry, money and Iranian troops transported from Iran by plane were identified for potential sanctions.

Though Bessent said in a statement Monday that the latest sanctions would amount to an “economic onslaught,” he said at a news conference later that they would not be imposed immediately.

“We are giving everyone the opportunity to remedy bad behavior. Why would I want to blow up the global financial system?” he said, adding, “We believe that a warning shot and a level set of expectations is appropriate.”

The latest round of sanctions comes after President Donald Trump threatened “tremendous economic consequences” on any country providing “any type of lifeline” to the nation. Bessent previewed the latest crackdown in an interview with CNBC’s “Squawk Box” on Thursday, saying the measures would “squash” the country’s ability to bankroll its military.

The administration has previously sanctioned Iranian officials and entities, including earlier this year, before the war began and in response to the brutal crackdown on anti-government protesters. But the new sanctions unveiled Monday are the clearest indication yet that the Trump administration’s pressure campaign has not yet produced its desired effects.

On Sunday, the leader of Iran’s Supreme National Security Council, Mohsen Rezaei, alleged that cooperating with U.S. sanctions would constitute “an act of war.”

Grace Cardinal contributed reporting.

The post Bessent threatens new sanctions against Iran as war nears 6-month mark appeared first on MS NOW.

Author: Source Author

From MS Now.