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The largest economic offensive ever launched against Iran to isolate the country from the rest of the world. The US Treasury Secretary lifts the veil on “Operation Economic Outcast” which aims above all to cut all the financial ties of the regime and “suffocate” it, in fact, economically.
Five sectors in the crosshairs, including China
In Scott Bessent’s sights, therefore, there is not only Iran but also all those who help it in some way, including China. And the scope of secondary sanctions includes five key sectors: digital assets, technology, gold, aviation and shipping. “We will put an end to access to the dollar system for those who launder Iranian money,” he threatened in harsh tones, issuing a warning to “those who facilitate Iran”: “Do not test our resolve.”
«Either America or Iran»
After decreeing in Truth that Iran “is completely collapsing”, Donald Trump – explained the Treasury Secretary – is contacting world leaders with “specific requests to cease interactions with the regime”. “You know he can be persuasive,” Bessent explained with an ironic smile, before specifying that world leaders “have to make a decision: either America or Iran.”
Countries are given a defined timeline to stop economic cooperation with Iran and the “countdown has just begun.” Anyone who does not cut ties will face the “noose” and unilateral action from the Treasury Department. “Those who link themselves to the Iranian regime must expect to share the isolation of a regime in decline,” Bessent thundered, explaining instead that those who side with the United States “will reap the fruits of our partnership.”
Tehran’s response
The American “maximum pressure” campaign apparently does not seem to scare Tehran, according to which this offensive is nothing more than an admission of defeat. “We will use all our resources to counter the economic sanctions,” said Tehran Foreign Ministry spokesperson Esmaeil Baghaei, assuring that Tehran will not give in and noting that Iranian civilians will pay the highest consequences of the American crackdown.
Western sanctions have crushed Iran for years, causing a spike in inflation and a labor market crisis that triggered mass protests against Tehran’s government earlier this year. The regime’s leaders, however, did not give up and responded to the demonstrations with a bloody crackdown that led to the killing of thousands of demonstrators.
Rezaei’s warning
According to Mohsen Rezaei, the head of the Supreme National Security Council, Iran could respond with retaliation against American allies in the Gulf. “We will consider participation in and support of America’s economic war against the Iranian people as an act of war,” he said.
Few details on the economic D-Day
Beyond the proclamations and harsh, threatening tones, Bessent did not offer many details about the economic D-Day. He made it clear that the United States is focused on five areas that represent Iran’s lifeblood, from digital assets to technology, aviation and shipping. New sanctions have already been imposed on these sectors.
The Treasury secretary also diplomatically avoided answering what the repercussions might be for China, the world’s largest buyer of Iranian oil. “No one is above the reach of American secondary sanctions,” he limited himself to replying, highlighting how his announcement can be read as a chance to “remedy the bad behavior” of those with ties to the regime.
Negotiations at a standstill and midterms upon us
The hardening of America’s economic posture comes as negotiations to end the war have stalled. Trump, 70 days before the mid-term elections, has opted not to proceed with stronger military action, aware of the opposition of Americans and part of Congress to the war. What further effects the tightening will have on an Iranian economy already in crisis and struggling with the rial at historic lows against the dollar is not yet clear.