Secretary of the Treasury Scott Bessent speaks during a press conference at the Treasury Department in Washington, D.C., on Monday. Bessent announced sanctions on countries that refuse to cut ties with Iran, including penalties on digital assets, technology and shipping. Photo by Bonnie Cash/UPI | License Photo
Aug. 24 (UPI) -- The U.S. Treasury Department unveiled new sanctions on Iran on Monday, launching "Operation Economic Outcast" in an attempt to weaken its economy.
Treasury Secretary Scott Bessent evoked World War II in a statement on the plan, calling it an "economic onslaught" against Iran the Trump administration is referring to as "Economic D-Day.
"In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy out of its positions, including those in third countries," Bessent said in a statement.
"Today, in that same spirit, we are launching an economic onslaught against Iran's financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone."
