US sanctions target Iran’s financial networks as Bessent warns partners

The United States has launched a new sanctions campaign targeting Iran's financial and economic networks, with Treasury Secretary Scott Bessent warning global partners they have a "defined timeline" to halt activities supporting Tehran. Washington aims to sever revenue channels sustaining the Iranian regime amid a prolonged conflict. Bessent announced "Operation Economic Outcast," saying the Treasury has mapped networks Iran uses to smuggle oil and evade sanctions. The new measures target nearly 60 Iran-linked entities, individuals and vessels across oil, nuclear, missile and cyber sectors, disrupting infrastructure for revenue generation and international financial access. The campaign comes nearly six months into the conflict, which US officials describe as a stalemate. Bessent warned countries and entities continuing engagement with Tehran will face growing pressure as Washington expands its efforts.