Bessent Warns Any Entity Laundering Money for Iran Will Be Cut Off from the US Dollar System

US Treasury Secretary Scott Bessent on Monday announced "Operation Economic Outcast," an expanded sanctions campaign against Iran, warning that any entity facilitating money laundering on behalf of Iran will be removed from the US dollar system. "The clock just started ticking," Bessent said in prepared remarks, framing the move as an economic equivalent of D-Day. The operation expands the categories eligible for secondary sanctions, targeting not only Iranian institutions but also third-country entities and trading partners that help Tehran move money.

The announcement comes as Iran's currency dropped to a record low against the dollar, and as the Trump administration signals it is escalating financial pressure after military strikes failed to achieve desired results.