The U.S. Treasury Department has launched a campaign titled 'Operation Economic Outcast' as part of an escalation in the U.S.-Iran conflict. According to a press release, the economic campaign against Iran and its enablers was initiated at the direction of President Trump.
Treasury Secretary Scott Bessent previously referred to the initiative as an “Economic D-Day” for Iran, describing it as the endgame in efforts to cripple the country's economy. Bessent stated that the campaign's objective is to sever every economic lifeline sustaining the regime until Tehran stands alone.
As part of the campaign, the Treasury Department stated it has mapped the networks, facilitators, and financial channels used by Iran to smuggle oil, evade sanctions, and fund terror. The Treasury warned that the regime faces a choice between severe global isolation and a path to reintegration with the global economy.
Targeting the Crypto Sector and Other Industries
The Treasury Department announced it will sanction individuals who assist Iran through the cryptocurrency sector. Through Operation Economic Outcast, the Office of Foreign Assets Control (OFAC) is empowered to sanction anyone, regardless of their location, who operates within the crypto sector of the Iranian economy.
The Treasury noted that the Iranian regime increasingly uses cryptocurrency to evade sanctions and support transactions linked to the Islamic Revolutionary Guard Corps (IRGC) and regime insiders. In addition to crypto, the U.S. plans to target technology, gold, aviation, and shipping sectors.
Amid these geopolitical developments, Bitcoin traded around $79,000, having previously experienced a decline following fresh tariff announcements against Canada before recovering to an intraday high of $80,000.
