"Get Ready for U.S. Sanctions!" Treasury Chief, Feared More Than Defense Secretary, Declares "Operation Economic Outcast"—"What About China?" Amid Iran's Provocations (Trump NOW)

The U.S. administration under Donald Trump announced new sanctions against Iran on August 24 (local time), including secondary sanctions on other countries engaging in specific trade with Iran.

U.S. Treasury Secretary Scott Bessent held a press conference at the Treasury Department building in Washington, D.C., that day, stating, "Today, we are launching 'Operation Economic Outcast' to shut off every option available to the Iranian regime."

Specifically, the administration decided to impose "secondary sanctions" on other countries conducting transactions with Iran involving digital assets, technology, gold, aviation, and maritime shipping.

Secondary sanctions involve imposing measures such as tariffs on third countries that trade with targeted entities, and are also referred to as "third-party sanctions."

In addition, the U.S. designated over 60 entities, individuals, and vessels worldwide as new sanction targets for helping the Iranian regime acquire nuclear and missile technology, conduct cyber operations, and generate oil revenues.

Secretary Bessent said, "The Treasury Department has identified every hub, every intermediary, and every network that Iran has used to smuggle oil and evade sanctions," adding, "Starting today, we are tightening the noose further to cut off all potential sources of revenue funding the Islamic Revolutionary Guard Corps (IRGC) and the nefarious Iranian regime."

He further stated, "We are implementing a 'zero leakage' approach," expressing determination to thoroughly choke off the Iranian regime's financial lifelines.

Secretary Bessent also warned, "Any institution that facilitates money laundering on behalf of Iran will be cut off from the U.S. dollar system."

Secretary Bessent's announcement that day had been anticipated.

As military operations against Iran, which began on February 28, failed to achieve goals such as banning Iran's nuclear weapons and ensuring free navigation through the Strait of Hormuz, the administration shifted its focus toward economic sanctions to strike Iran.

When asked whether China—Iran's largest export and import partner—was included in these measures, Secretary Bessent did not directly mention China, but stated, "No one can escape the reach of U.S. sanctions."

Produced by JIN Sang-myeong | Video by Ahn Jun-hyeok | Produced by SBS Digital News
※ Please note: This article was translated by AI and may contain errors.