U.S. Imposes Secondary Sanctions on Countries Trading with Iran

The Trump administration announced new sanctions against Iran on August 24, targeting countries that trade specific goods with the nation.

Scott Bensett, U.S. Secretary of the Treasury, held a press conference at the Treasury Department in Washington, D.C., stating, "Today we are launching 'Operation Economic Outcast' to block all options available to the Iranian regime."

He added, "Iran faces two paths: complete international isolation and a survival economy, or the opportunity to reintegrate into the global economy and return to normalcy."

Bensett noted that the Treasury has identified all bases, intermediaries, and networks that Iran has used to smuggle oil and evade sanctions. "Starting today, we will tighten the noose and cut off all potential revenue sources that fund the Islamic Revolutionary Guard Corps (IRGC) and the malign Iranian regime. We are implementing a 'zero leakage' approach," he said.

He also mentioned that President Trump is calling on world leaders to cease interactions with the Iranian regime, stating, "All countries have been given a deadline to stop the activities we have designated. If they do not take action, we will unilaterally impose measures through the authority of the Treasury Department," making it clear that countries that do not sever ties with Iran will face secondary sanctions.

Bensett warned that any entity facilitating money laundering on behalf of Iran will be excluded from the U.S. dollar system, adding that a significant announcement regarding financial institution sanctions is expected later this week.

However, Iran quickly made it clear that it would not succumb to U.S. pressure. Seyyed Ali Madani Zadeh, Iran's Minister of Economic Affairs and Finance, stated in an interview with state television, "The government has established a two-year economic plan, and all matters are included in this plan. We have long prepared to counter U.S. sanctions, and we are fully ready for the new sanctions."

* This article has been translated by AI.