Washington Launches “Economic Outcast” Campaign Against Iran, Warns of Unilateral Measures
Welat TV – Erbil
The United States announced on Monday, August 24, 2026, the launch of an “Economic Outcast” campaign against Iran, saying the initiative aims to cripple the Iranian economy and isolate Tehran from the global financial and trading system, while warning that Washington will take unilateral measures if countries fail to comply with specified deadlines.
US Treasury Secretary Scott Bessent said during a press conference titled “Decisive Economic Day” that Washington had launched the “Economic Outcast” campaign to cut off “every economic lifeline” supporting the Iranian government and ultimately isolate Tehran from the global economy.
Crippling the Iranian Economy
Bessent described the campaign as an ongoing effort to “strangle the Iranian economy,” stressing that the administration of President Donald Trump was no longer seeking to “manage the Iranian threat but to end it.” He said the financial pressure would coincide with US military moves aimed at preventing Iran from acquiring nuclear weapons.
The new measures target five critical channels that Iran uses in its dealings with other countries: digital assets, technology, gold, aviation, and maritime shipping.
Unilateral Sanctions
Bessent said Washington was also demanding the closure of branches of Iranian banks operating abroad, warning that the United States would take unilateral action if countries failed to meet the specified deadlines.
He added that any entity facilitating money-laundering operations on behalf of Iran would be excluded from the dollar-based financial system, stressing that “no one is beyond the reach of US sanctions.”
60 Individuals and Entities Targeted
The US Treasury Department announced a new and wide-ranging sanctions campaign against Iran on Monday, targeting 60 individuals and entities linked to Iran and focusing on activities in the oil, nuclear, and missile sectors. The measures also include the suspension of general licenses that had allowed certain financial transfers to Iran.
Iran Vows to Respond
Iranian Minister of Economic Affairs and Finance Ali Madanizadeh, meanwhile, vowed that the United States would face “another defeat” following Washington’s announcement of expanded sanctions against Tehran. He said the government had prepared a two-year plan to deal with mounting economic pressure.
Speaking to Iranian state television on Monday, Madanizadeh said the United States had used everything at its disposal to test the resolve of the Iranian people and leadership but had failed each time. He added that the government was prepared to respond to developments and that the United States would not be able to cut Iran’s financial lifelines.
Dangerous Escalation
The “Economic Outcast” campaign marks a new stage in the escalating US-Iranian confrontation, which has been ongoing since late February, amid regional and international concerns over the possible collapse of negotiations and the potentially serious consequences for the global financial system, regional security, and stability.