Treasury Secretary Scott Bessent announced a new U.S. sanctions initiative, "Operation Economic Outcast," targeting countries and entities doing business with Iran. This plan aims to increase pressure on the Iranian regime amidst a period of uncertainty regarding military action or a new deal. Bessent stated that economic engagement with Iran will be met with the full force of American power. The expanded secondary sanctions will cover digital assets, technology, gold, aviation, and shipping, all areas Iran uses to generate revenue. The Treasury Department has already sanctioned nearly 60 entities and individuals involved in illicit activities and suspended certain payment licenses. The U.S. will provide defined timelines for countries to cease Iran-related business, with non-compliance leading to sanctions. President Trump will personally contact foreign leaders to urge them to end trade with Iran. However, the effectiveness of these new sanctions is uncertain, as existing measures have been inconsistently enforced. The U.S. will need to build a coalition with allies and confront countries like China and Russia that continue to trade with Iran. Iran's economy is already in crisis due to war and naval blockades, leading to currency devaluation and rising inflation. Despite downplaying U.S. threats, some Iranian leaders acknowledge the severity of the economic situation and the need for financial stability. Iranian officials have also expressed skepticism about the U.S.'s ability to enforce such broad sanctions and have threatened retaliation.