The US just turned the economic screws on Iran to a degree that makes previous rounds look like gentle nudges. Treasury Secretary Scott Bessent announced a sweeping new sanctions package on August 24, dubbed “Operation Economic Outcast,” targeting five sectors: digital assets, technology, gold, aviation, and shipping.
Iran’s response was roughly what you’d expect from a country being told its economy is about to get kneecapped. Officials warned that any nation cooperating with the new measures would be committing an “act of war.”
What the sanctions actually do
The package designates approximately 60 individuals, entities, and vessels across the five targeted sectors. That’s a wide net, and it’s designed to do more than just squeeze Iran directly.
The real teeth are in the secondary sanctions warnings. These target foreign companies and institutions that continue doing business with Iran, essentially forcing third-party nations to choose sides. Washington set a compliance timeline for enforcement, giving trading partners a window to wind down their Iranian exposure before penalties kick in.
