U.S. Expands Iran Sanctions

Treasury Secretary Scott Bessent announced “Operation Economic Outcast,” a new U.S. sanctions campaign targeting Iran’s aviation, digital-asset, gold, shipping and technology sectors. He said Washington would pursue secondary sanctions against foreign financial institutions, companies and countries that continue Iranian trade, including oil revenue and money-transfer networks. The rial fell to a record 2.02 million to the dollar ahead of the announcement, versus an official Central Bank rate around 1.5 million. Iranian officials said the measures would not bring regional peace and warned supporters could face retaliation.