Trump administration begins ‘economic D-Day’ sanctions against Iran
The Trump administration initiated sanctions against Iran, targeting over 60 entities while allowing others time to cut ties before facing penalties.
The Trump administration began rolling out what it calls “economic D-Day” against Iran, threatening sanctions against any country that continues doing business with the nation.
The initiative, called Operation Economic Outcast, sanctioned more than 60 targets on Monday.
While announcing the sanctions, Treasury Secretary Scott Bessent clarified that some sanctions may be held back for the time being. “Why would I want to blow up the global financial system?” Bessent said, explaining why other countries and businesses are being given time to sever ties with Iran before facing new penalties, including removal from the U.S. dollar system.
Bessent did not provide a specific deadline but said, “The clock is ticking.”