- US Treasury Secretary Scott Bessent announced new sanctions against countries that refuse to cut economic ties with Iran, dubbing it an 'economic D-Day'.
- President Trump stated he will launch 'Operation Economic Outcast' as part of an 'economic D-Day' amid ongoing military conflict with Iran.
- The US Treasury has initiated its campaign targeting five sectors: aviation, digital assets, gold, shipping, and technology.
- The Treasury has suspended licenses for remittance payments to Iran, impacting the Iranian diaspora's ability to send money.
- The US has indefinitely suspended all amateur and professional sports activities and academic exchanges with Iran.
- China warned that the new US sanctions will only intensify tensions and that its cooperation with Iran should not be disrupted.
- Global oil prices dipped as traders awaited more details, with Brent down 2% to $90 and WTI down 2.4% to $83.
- China has stated it will safeguard its interests amid the US sanctions, emphasizing that its cooperation with Iran is within international law.
- Iran remains defiant, with its finance minister asserting that the country is fully prepared to counter the sanctions.
- Experts suggest that the new sanctions are likely to lead to Iranian counter-escalation rather than capitulation.
The U.S. Treasury has launched a new campaign of sanctions against Iran, targeting sectors including aviation, digital assets, and shipping.9
Scott Bessent, the U.S. Treasury Secretary, described this initiative as an 'economic D-Day' aimed at countries purchasing Iranian oil.12
“The goal: to restrict the revenue that the Iranian regime uses to attack its neighbors, support terrorism abroad, brutally oppress its own people, and hold the global economy hostage,” Bessent stated.
Iran's finance minister responded, asserting that the country is “fully prepared” to counter the sanctions, which have a history of failing to compel compliance.
Experts suggest that with nearly 47 years of sanctions, Iran is likely to escalate its defiance rather than capitulate.
The sanctions also include measures that will impact ordinary Iranians, such as the suspension of licenses for remittance payments, complicating financial support from the Iranian diaspora.
Meanwhile, China has warned that U.S. sanctions will only “further intensify tensions” and has vowed to safeguard its interests in Iran.68
Chinese Foreign Ministry spokesperson Lin Jian emphasized that cooperation with Iran operates within international law and should not be disrupted.
As the U.S. expands its sanctions, it has also threatened secondary sanctions against countries that maintain ties with Iran, with Bessent asserting that “No one is above the reach of U.S. sanctions.”
The situation remains fluid, with global oil prices dipping as markets await further developments.
“The Treasury's new measures target five sectors including aviation and digital assets, and suspend licenses for remittances, complicating diaspora payments. China, Iran's largest oil buyer, warns the sanctions will 'only further intensify tensions' and vows to take 'all necessary measures' to protect its interests.”
