Trump expands Iran sanctions with 'Operation Economic Exile'

The Trump administration announced a new sanctions package against Iran called "Operation Economic Exile" on August 24, expanding the scope of secondary sanctions. Treasury Secretary Bessent stated the goal is to cut off all economic lifelines supporting Iran's authoritarian regime, though specific target countries and implementation dates were not disclosed. The expanded secondary sanctions target five new sectors: digital assets, weapons-related technology, gold, aviation, and shipping. Countries trading with Iran face deadlines to halt transactions or risk exclusion from the dollar settlement system. The Treasury also sanctioned approximately 60 individuals and entities linked to Iran's nuclear and missile programs or oil revenue. The move comes as negotiations to end hostilities have stalled, with Washington seeking to pressure Iran economically. Iran's Parliament Speaker Qalibaf dismissed the sanctions, saying Americans know no one believes their rhetoric and that the US is in no position to further restrict economic relations with other countries.