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nid 94730
Aug 25, 2026
pdonofrio@vixio.com
US Track 2
U.S. Department of the Treasury
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2370 charsU.S. Department of the Treasury Launches Operation Economic Outcast Against Iranian Regime
On August 24, 2026, the U.S. Department of the Treasury announced Operation Economic Outcast, a comprehensive economic campaign against Iran and its enablers directed by President Trump. Treasury Secretary Scott Bessent said the operation aims to "sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," comparing the initiative to World War II's D-Day operation.
Operation Economic Outcast targets Iran's financial networks, oil smuggling channels, and sanctions evasion mechanisms. The Treasury has mapped the networks, facilitators, and financial channels that Iran uses to generate illicit revenue and fund the Islamic Revolutionary Guard Corps (IRGC). The campaign expands secondary sanctions exposure for entities conducting Iran-related business and accelerates enforcement against those facilitating money laundering or sanctions evasion on behalf of Iran. The Office of Foreign Assets Control (OFAC) issued five unprecedented sectoral sanctions determinations targeting digital assets, technology, gold, aviation, and shipping—sectors the Iranian regime leverages to sustain its economy. OFAC sanctioned nearly 60 entities, individuals, and vessels across multiple jurisdictions enabling Iran's nuclear and missile procurement, cyber operations, and oil-revenue generation. OFAC suspended general licenses previously authorizing certain remittance payments to Iran and Iranian access to the U.S. cultural and academic system.
The Treasury designated cyber actors directed by Iran's Ministry of Intelligence and Security responsible for compromising U.S. critical infrastructure and conducting financially motivated cyber theft. OFAC targeted procurement networks spanning the Middle East and East Asia supporting Iran's nuclear and missile development, as well as shadow fleet vessels and shipping facilitators transporting Iranian oil. The Department of State designated seven Iranian defense officials and two entities involved in enabling Iranian military strikes. All designated persons' property and interests in the United States are blocked, and U.S. persons are prohibited from conducting transactions involving these entities unless authorized by OFAC. The Treasury is engaging counterparts globally, providing defined timelines for countries to cease Iran-related activity or face secondary sanctions exposure.
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2519 charsUS Department of the Treasury Launches "Operation Economic Outcast" on Iran
On August 24, 2026, the US Department of the Treasury announced "Operation Economic Outcast", a comprehensive economic sanctions campaign against Iran that targets its financial networks, oil smuggling channels and sanctions evasion mechanisms. The campaign also expands secondary sanctions exposure for entities conducting Iran-related business and accelerates enforcement against those facilitating money laundering or sanctions evasion on behalf of Iran.
To accomplish the aims of the campaign, the US Office of Foreign Assets Control (OFAC), a subsidiary of the Treasury, has implemented the following actions with regard to its Iran sanctions programs:
Published a determination pursuant to Executive Order 13902 with respect to sanctions on Iran's aviation, digital assets, gold, shipping and technology sectors.
Published a notice of suspension regarding certain Iran-related transactions and general licenses: Iran General License F related to certain services in support of professional and amateur sports activities and exchanges involving the US and Iran (suspended as of August 24, 2026). Iran General License G related to academic exchanges and the exportation or importation of certain educational services (suspended as of August 24, 2026).
Iran General License F related to certain services in support of professional and amateur sports activities and exchanges involving the US and Iran (suspended as of August 24, 2026).
Iran General License G related to academic exchanges and the exportation or importation of certain educational services (suspended as of August 24, 2026).
Issued Iran General License AA authorizing certain activities involving La Nivernaise De Raffinage SAS.
Issued Iran General License BB authorizing the wind-down of certain transactions previously authorized under 31 Code of Federal Regulations (CFR) Part 560 .
Published an updated Iran-related alert on sanctions risks of Iranian demands for Strait of Hormuz passage.
Additionally, OFAC has updated its Specially Designated Nationals (SDN) list in alignment with the Treasury's broader campaign. The new sanctions designations target nearly 60 individuals, entities and vessels across multiple jurisdictions enabling Iran's nuclear and missile procurement, cyber operations and oil-revenue generation. As a result, all US-based property and interests of these targets are blocked, and US individuals and entities are generally prohibited from engaging in transactions with them, unless expressly authorized by OFAC.