Treasury Secretary Scott Bessent announced on Monday that the Trump administration is launching “Operation Economic Outcast” against Iran, outlining a targeted effort aimed at severing Tehran’s global economic ties in order to “collapse every last option” for Tehran. 

“Today, we are launching Operation Economic Outcast … Treasury has mapped every node, every facilitator, and every network that Iran has used to smuggle oil and evade sanctions,” Bessent said at a press conference at the Treasury Department. “Beginning today, the actions of Treasury and other agencies will tighten the noose and block every potential source of revenue that funds the [Islamic Revolutionary Guard Corps] and the evil Iranian regime. We are enforcing a zero leakage approach.”

The directive targets five economic sectors: digital assets, technology, gold, aviation and shipping. At Bessent’s direction, the department’s Office of Foreign Assets Control on Monday designated over 60 entities, individuals and vessels worldwide “that enable the Iranian regime to procure illicit nuclear and missile technology, conduct cyber operations and generate oil revenue.” 

“America is no longer managing the Iranian threat, we are ending it,” Bessent asserted. “Iran now faces a very clear choice, with only two paths before them: complete global isolation and a subsistence economy, or a path back to normalcy with an opportunity to rejoin the global economy.”

Bessent explained that Washington is pushing allied countries to  comply with the isolation regime and said the U.S. would no longer tolerate diplomatic or commercial neutrality in other countries’ relationships with Tehran.

“The president is making phone calls to world leaders with specific requests to cease their interactions with the regime. We are already seeing results,” Bessent said. “Teams from Treasury, State [Department] and the U.S. military are now meeting with their global counterparts to tell them that the United States expects action. Every country has a defined timeline to shut down activities we have identified. If they do not take action, we will do so unilaterally through Treasury authorities.”

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

While Bessent declined to provide a timeline for countries to comply, he emphasized that U.S. patience is not infinite, stating that Washington would aggressively pursue secondary sanctions against any country or entity that continues trade with Tehran.

“No nation should expect to enjoy the rewards of our system while helping those who seek to destroy it,” Bessent said. “The campaign we begin today will gather force with every day that follows, and it will not end until this regime stands alone.” 

The sanctions could further pressure Iran’s economy, which is already in distress. Strained by existing U.S. sanctions and a monthslong naval blockade, Iran is wrestling with a collapsing currency, as well as hyperinflation.