US sanctions target Iran's revenue streams

The US government announced new sanctions targeting Iran's economy, aiming to cut off all revenue sources for the Iranian Revolutionary Guards. The operation, named "Economic Outcast," focuses on digital assets, technology, gold, aviation, and shipping. Treasury Secretary Scott Bessent warned that institutions facilitating money laundering for Iran would be excluded from the US dollar system. He also hinted at a major announcement regarding sanctions on a financial institution by the end of this week. The sanctions follow months of ineffective military strikes in the conflict between Washington and Tehran. The dispute over the Strait of Hormuz continues to disrupt global oil trade and the international economy.