The U.S. Secretary of the Treasury, Scott Bessent, announced on Monday the launch of the "Economic Pariah Operation," an unprecedented financial offensive aimed at cutting off "all economic options" of the Iranian regime.
At a press conference, Bessent presented the operation as a sustained campaign to completely isolate Tehran, nearly six months into the armed conflict between the United States, Israel, and Iran.
"The Treasury Department has identified all the nodes, facilitators, and networks that Iran has used for oil smuggling and evading sanctions," stated the official, who warned that "no one is exempt" from becoming a target of secondary sanctions for maintaining economic relationships with the Iranian regime.
"These measures increase the risk of secondary sanctions for anyone foolish enough to continue doing business with this regime, and they will accelerate our actions against them," he warned.
The new sectoral sanctions target five vital channels that Tehran exploits in third countries: digital assets, technology, gold, aviation, and maritime transport.
At the same time, the Office of Foreign Assets Control of the Treasury sanctioned more than 60 entities, individuals, and vessels worldwide that facilitate the Iranian regime's acquisition of nuclear and missile technology, the execution of cyber operations, and the generation of oil revenue.
Bessent issued a direct ultimatum to all countries that maintain economic ties with Iran: "Those who align with the United States will reap the rewards of our alliance. Those who remain tied to the Iranian regime must expect to share in the isolation of a decaying regime."
The official was explicit about the consequences for those who do not heed the warning: "Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system. The clock has just started ticking."
As a concrete example, he noted that each branch of Bank Melli - the main state bank of Iran - must be "shut down and darkened."
Bessent also reported that teams from the Treasury, the State Department, and the U.S. armed forces are meeting with their counterparts around the world to demand action.
"Each country has a defined deadline to end the activities we have identified. If they do not act, we will do so unilaterally through the Treasury authorities," he warned.
And he summarized the scope of the offensive with a phrase that leaves no room for ambiguity: "This is a sustained campaign to collapse every last option of Iran."
On the same day, President Donald Trump posted on Truth Social that “Iran is completely collapsing!”, in line with the maximum pressure tone that characterizes the strategy of his administration.
The operation continues the escalation that began on February 28 with joint airstrikes by Washington and Tel Aviv against Iranian territory. Tehran responded by closing the strategic Strait of Hormuz, which caused the price of Brent crude to surge from $67 to over $126 and left nearly 2,000 ships and 20,000 sailors stranded.
After a brief agreement in June that did not succeed, the U.S. forces resumed the naval blockade in July. By mid-August, the flow of oil through Hormuz had fallen from about 20 million barrels per day to between eight and 12 million, and 80% of the remaining traffic was operating "dark," without identification.
The economic impact on Iran is severe: the International Monetary Fund projects a GDP contraction of -5.4% in 2026, while year-on-year inflation reached 88% in July, with food prices skyrocketing above 128%.
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