Treasury Secretary Scott Bessent on Monday unveiled a sweeping new effort to economically isolate Iran, warning foreign governments and companies that they could lose access to the U.S. financial system if they continue doing business with Tehran.
The new campaign, which Bessent dubbed “Operation Economic Outcast,” however, stops short of immediately imposing penalties against financial institutions located in China and other countries that facilitate trade with Iran for oil and other commodities...
https://www.politico.com/news/2026/08/24/bessent-iran-economy-01047365
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