The U.S. Department of the Treasury has launched Operation Economic Outcast, a sustained government-wide campaign to restrict Iran’s access to international financial and commercial channels. The Office of Foreign Assets Control issued sectoral determinations covering digital assets, technology, gold, aviation and shipping, enabling sanctions against foreign persons that operate in or support those sectors of Iran’s economy. It also sanctioned nearly 60 entities, individuals and vessels linked to Iranian nuclear and missile procurement, cyber activity, oil revenue and shadow fleet networks. The measures expand potential secondary sanctions exposure for firms continuing Iran-related business and increase the risk that entities facilitating Iranian money laundering or sanctions evasion will be cut off from the U.S. financial system. OFAC also suspended several general licenses covering certain remittances and Iranian access to U.S. cultural and academic systems, and issued guidance on sanctions risks associated with Iranian shipping demands in the Strait of Hormuz. U.S. agencies are giving countries defined timelines to close identified Iran-related activity, while Treasury plans to accelerate enforcement against those that fail to act.
2026-08-24U.S. Department of the Treasury
U.S. Department of the Treasury launches Iran sanctions campaign, expands secondary sanctions risk across five sectors and targets nearly 60 parties and vessels
The U.S. Department of the Treasury launched a sustained Iran sanctions campaign and expanded potential secondary sanctions to the digital assets, technology, gold, aviation and shipping sectors. OFAC also targeted nearly 60 entities, individuals and vessels tied to procurement, cyber and oil networks, while suspending several general licenses and signaling faster enforcement.