US sanctions Iran in five sectors, warns world to pick a side

The United States has launched "Operation Economic Outcast," an unprecedented sanctions campaign against Iran targeting five key sectors: digital assets, technology, gold, aviation, and shipping. Treasury Secretary Scott Bessent announced the initiative, warning world leaders to choose between America and Iran. Nearly 60 Iran-linked entities, individuals, and vessels were sanctioned across nuclear, missile, cyber, and oil networks. The measures also targeted broker companies supporting shadow-fleet vessels in the UAE, Hong Kong, China, Singapore, Switzerland, and Europe. Iran's rial has fallen to a record low of 2.02 million per dollar, with food prices surging. The campaign comes as Iran's economy faces severe pressure, with the IMF forecasting GDP contraction exceeding 5%. Iranian officials warned they could halt oil exports through the Strait of Hormuz if the campaign continues. President Trump described Iran as being in an "economic and military death spiral."