US Treasury Launches 'Operation Economic Outcast,' Threatens Dollar-System Cutoff for Iran Trade Partners

US Treasury Secretary Scott Bessent announced "Operation Economic Outcast" on August 24, threatening sanctions on any country or entity maintaining economic ties with Iran. Violators face deadlines to sever ties; those facilitating money laundering on Iran's behalf would be removed from the US dollar system. The move comes six months after a US-Israeli strike killed Supreme Leader Khamenei. Iran warned of retaliation.