Event details
Treasury Secretary Scott Bessent announced Operation Economic Outcast, expanding secondary-sanctions exposure across digital assets, gold, aviation, technology and shipping. CBS reported that many measures include a rapid cure period rather than taking effect immediately.
Context
The campaign raises the cost of Iran-linked trade for foreign banks and shipping firms; the next test is which institutions are actually designated and how China and Gulf partners respond.
- Local time
- 1:17 PM New York time, Aug 24, 2026
- Location
- Washington, D.C., United States
- Relationship
- Update