US Unveils "Operation Economic Outcast" Sanctions Campaign Against Iran
The US Treasury Department announced "Operation Economic Outcast" on August 30, 2026, a comprehensive sanctions campaign designed to completely isolate Iran from the global financial system. The initiative targets foreign banks and corporations that facilitate Iranian oil exports, which have already dropped 30% due to a US-led naval blockade in the Gulf. Treasury Secretary Scott Bessent stated the move is intended to force a diplomatic collapse of the Iranian regime amid the ongoing regional conflict.
Date: August 30, 2026
Location: District of Columbia, United States
Conflict: US-Iran Conflict
Category: sanctions
Severity: MEDIUM
Source: Fox News