US Targets Iran's Economy With New Sanctions, No Specifics Given

The US announced new sanctions aimed at isolating Iran from the global economy, targeting its revenue sources. Treasury Secretary Scott Bessent made the announcement Monday but provided no specific measures. The operation, called "Economic Outcast," focuses on digital assets, technology, gold, aviation, and shipping. Bessent warned institutions facilitating Iranian money laundering would be excluded from the US dollar system. He promised a major announcement on financial institution sanctions by week's end. President Trump previously described the plan as a "financial D-Day" with "devastating" consequences. The sanctions follow months of ineffective military strikes in the six-month conflict. The Strait of Hormuz remains a central dispute, disrupting global oil trade.