US sanctions on Iran target gold, tech, and shipping in new campaign

The US Treasury announced "Operation Economic Outcast," a sweeping sanctions campaign against Iran targeting five key sectors, including gold, technology, and shipping. Treasury Secretary Scott Bessent described it as an economic "D-Day" to sever Tehran's global financial ties. The plan threatens secondary sanctions on any country, including China, that continues business with Iran. However, Washington has granted a grace period for nations to comply, avoiding immediate new penalties. Nearly 60 entities, individuals, and vessels were sanctioned for supporting Iran's nuclear program or oil revenue. Iran vowed to counter the sanctions, warning it may treat Gulf allies supporting the US campaign as committing an act of war. The escalation comes as the conflict nears six months, with the Strait of Hormuz blocked and Trump's approval rating at 33%.