US Expands Pressure on Iran: Bessent Warns Sanctions on Money Laundering Entities

The United States announced a new initiative to pressure Iran economically, with Treasury Secretary Scott Bessent stating that entities helping Iran launder money will be cut off from the dollar system. Bessent unveiled "Operation Economic Outcast" at a press conference, saying the Treasury has identified every node, facilitator, and network Iran uses to smuggle oil and evade sanctions. The operation targets five key sectors: digital assets, technology, gold, aviation, and shipping, expanding secondary sanctions risks. Bessent warned that no one is beyond the reach of U.S. sanctions, including Chinese banks, and that President Trump is calling world leaders to halt dealings with Iran. The United Arab Emirates recently suspended all trade and financial ties with Tehran.