Treasury Secretary Scott Bessent announced Operation Economic Outcast, aiming to sever Iran’s economic lifelines. Comparing the move to D-Day, he stated that every country has a timeline to shut down identified activities or face unilateral U.S. action. A major financial institution sanction is expected by week’s end.

Iran’s economy is crumbling, with its currency plummeting past two million to the dollar. The UAE halted all trade, and oil exports have dropped to zero due to the U.S. blockade. Iranian President Masoud Pezeshkian acknowledged shortages, while parliamentary speaker Mohammad Bagher Ghalibaf warned that hunger and lack of finance threaten the regime’s endurance.

The Islamic Revolutionary Guard Corps (IRGC) faces revenue losses as the U.S. maintains control of the Strait of Hormuz. Bessent highlighted enablers including the UAE, Iraq, Turkey, Malaysia, Qatar, Pakistan, and China. While Chinese refineries are blocked, state-owned banks sustaining them remain a target. The administration now faces a test in escalating sanctions against these key financial supporters.