World · 25 August 2026
Operation Economic Outcast begins but America holds its biggest blow
Image by photoikigai on Freepik
The US Treasury has begun Operation Economic Outcast, sanctioning a shadow fleet network moving Iranian oil through UAE, Hong Kong, Singapore and Europe. Secondary sanctions now extend to digital assets, gold, aviation and shipping, though Bessent held the largest penalties back as Trump phones leaders to cut Iran off. He says no one is exempt, China included, and a bank announcement is expected within days.
Reported by CNBC · How we write briefs