▲ U.S. Treasury Secretary Scott Bessent speaks during a press conference at the Treasury Department in Washington on Aug. 24, 2026, in this photo released by UPI. (Yonhap)

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By Song Sang-ho

WASHINGTON, Aug. 24 (Yonhap) -- The United States on Monday broadened the risk of anti-Iran secondary sanctions for third parties doing business with the Islamic Republic, and sanctioned nearly 60 entities, individuals and vessels, as it launched a stepped-up economic campaign "to sever every economic lifeline" of the Tehran regime.

During a press conference, Treasury Secretary Scott Bessent announced the launch of "Operation Economic Outcast," highlighting five key sectors that can be subject to secondary sanctions: digital assets, technology, gold, aviation and shipping. Secondary sanctions are penalties imposed on third parties for doing business with a sanctioned nation.

The launch of the campaign sent a stern warning to those economically engaging with Iran, including those from China, observers said, as Washington has shifted its focus to economic pressure tactics in the hopes of ending the monthslong war with Tehran.

Bessent stressed that "an economic engagement of any kind" with Iran will expose those responsible to the "full reach of American power," and that "no one is above the reach of U.S. sanctions."

"We are launching an economic onslaught against Iran's financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," the secretary said.

He cast the campaign as a "zero-leakage" approach, saying that U.S. efforts against Iran will "tighten the noose and block every potential source of revenue" that funds the Iranian regime and the Islamic Revolutionary Guard Corps (IRGC).

The secretary called on countries to get on board to economically isolate Iran.

"Those who stand with the United States will reap the rewards of our partnership," he said. "Those who tether themselves to the Iranian regime should expect to share in the isolation of a withering regime."

Touching on the five sectors for secondary sanctions, Bessent described the sectors as being among "Iran's most vital lifelines that it exploits" to try to prop up its regime.

"These measures broaden secondary sanctions risk for anyone foolish enough to continue conducting business with this regime, and will accelerate the speed with which we pursue them," he said.

Bessent noted that Trump is making phone calls to world leaders with "specific requests" to cease their interactions with Iran. He declined to name the leaders that Trump is speaking to.

Moreover, teams from the Treasury and State Departments, and the U.S. military are now meeting their counterparts to tell them that the U.S. "expects action" by them, he said.

"Every country has a defined timeline to shut down activities we have identified. If they do not take action, we will do so unilaterally through Treasury authorities," he said.

He also warned, "Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system. The clock just started ticking."

Along with secondary sanctions measures, the department's Office of Foreign Assets Control sanctioned nearly 60 entities, individuals and vessels in multiple jurisdictions that enable Iran's illicit nuclear and missile technology procurement, cyber operations, and oil‑revenue generation networks.

The office also suspended several general licenses that previously authorized certain remittance payments to Iran and Iranian access to the U.S. cultural and academic system.

In addition, it issued additional guidance on the sanctions risks of acceding to Iranian demands related to shipping in the Strait of Hormuz, the department said.

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