Policy signal: The Trump administration launched Operation Economic Outcast on August 24 as a sustained campaign to isolate Iran economically, expanding sanctions across its aviation, digital-assets, gold, shipping and technology sectors and targeting nearly 60 individuals, entities and vessels connected to Iranian oil exports, procurement and sanctions evasion. The initiative signals more aggressive use of secondary sanctions, potentially forcing foreign banks and companies to choose between conducting business with Iran and retaining access to the U.S. financial system. Businesses with direct or indirect Iranian exposure—particularly in banking, shipping, insurance, commodities, cryptocurrency and technology—should anticipate increased compliance scrutiny, designation risk and rapidly changing restrictions.
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