The United States launched an unprecedented campaign to cutIran off from global economic and financial networks, imposing sanctions on 60entities, individuals, and vessels linked to its nuclear, missile, and oilsectors, Treasury Secretary Scott Bessent stated on Monday.
The Treasury Department also suspended general licenses thathad allowed certain financial transfers to Iran. The measures target companiesand vessels linked to Iran’s “shadow fleet” in the United Arab Emirates, HongKong, China, Singapore, and Switzerland.
The measures target five sectors that Bessent described asvital channels used by Iran abroad: digital assets, technology, gold, aviation,and maritime shipping. Bessent also warned that countries continuing to facilitatetransactions with Iran would face consequences. “Washington would sanction amajor financial institution by the end of the week over its dealings withTehran.” He invoked the Allied landing in Normandy during World WarII to describe the scale of the campaign and accused Iran of “causing moredeaths and injuries among US citizens and troops than any other terroristregime.”
Earlier Monday, Reuters reported that Washington waspreparing to warn countries to cut economic ties with Iran or risk having theircompanies excluded from the US dollar-based financial system. The report,citing a source familiar with Treasury plans, said Bessent would announcemeasures expanding potential secondary sanctions against entities and countriesmaintaining economic ties with Iran.
The latest measures build on Washington’s broader campaigntargeting Iran’s oil trade and shadow fleet, including previous sanctionsagainst shipping companies and vessels involved in Iranian petroleum exports.
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