Bessent unveils 'economic D-Day,' penalizing countries aiding Iran

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(The Center Square) – The Trump administration is launching “Operation Economic Outcast,” a plan to broaden secondary sanctions on entities that financially aid Iran.

The goal, U.S. Treasury Secretary Scott Bessent told the press Monday, is to economically choke Iran by penalizing foreign countries, financial institutions, and other networks providing the regime with economic lifelines.

In the ��same spirit” of D-Day, Bessent said, the administration is “launching an economic onslaught against Iran’s financial connections around the globe” to “block every potential source of revenue” and facilitate the country’s “complete global isolation.”

“Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” Bessent added. “Any entity that facilitates money laundering on behalf of Iran, will be removed from the U.S. dollar system.”

Bessent said the new sanctions will be applied to any person or entity who assists the regime in accessing digital assets, technology, gold, aviation, or shipping to help keep Iran’s economy afloat and military operations funded.

He added that every country will be given “a defined timeline” within which to shut down Iran-related activity that the Treasury has identified, warning that “no one is above the reach of U.S. systems.”

“To those who enable Tehran: do not discount the cost of testing Washington’s resolve. No nation should expect to enjoy the rewards of our system while helping those who seek to destroy it,” Bessent said. “The campaign we begin today will gather force with every day that follows, and it will not end until this regime stands alone.”

Iran has already taken an economic hit since the conflict began nearly six months ago, losing roughly $435 million per day due to the Strait of Hormuz blockade. As of Monday, the Iranian rial to U.S. dollar exchange rate is roughly 2 million rial to every $1.

Iran is not the only country suffering economic consequences, however. Since the initial U.S.-Israeli joint strikes on Feb. 28, costs of jet fuel, crude oil, and fertilizer have skyrocketed, resulting in more expensive plane tickets, price increases for consumer goods, and U.S. gas prices hitting a four-year high.

The Pentagon says it has spent nearly $40 billion on military operations in Iran, though many independent analyses estimate the true amount is at least double. More than 770 U.S. servicemembers have sustained injuries and 18 have died in the conflict, per the Defense Casualty Analysis System.