Washington, Aug 24 (SocialNews.XYZ) The United States has given countries defined deadlines to shut down Iran-related activities, Treasury Secretary Scott Bessent said on Monday, warning that governments and companies must choose between access to the American economy and continued dealings with Tehran.
Bessent delivered the ultimatum while announcing “Operation Economic Outcast”, a sustained effort to isolate Iran and sever its financial connections around the world.
He said President Donald Trump had begun calling foreign leaders with specific demands to end interactions with the Iranian government. Teams from the Treasury, State and War departments were following up with their counterparts.
“Every country has a defined timeline to shut down activities we have identified,” Bessent said. “If they do not take action, we will do so unilaterally through Treasury authorities.”
Bessent declined to identify the countries approached by Washington. He also refused to disclose how much time they had been given.
“We do not have infinite patience here,” he said.
The Treasury secretary said the administration was initially using diplomacy to make its expectations clear. Governments and companies would receive an opportunity to end the targeted activities before sanctions were imposed.
“We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious,” Bessent said.
The warning applies to banks, shipping companies and other entities accused of helping Iran sell oil, move money or evade existing restrictions.
Bessent said any entity facilitating money laundering for Iran could be removed from the US dollar system.
“Those who stand with the United States will reap the rewards of our partnership,” he said. “Those who tether themselves to the Iranian regime should expect to share in the isolation of a withering regime.”
The Treasury expanded possible secondary sanctions to five additional sectors of the Iranian economy — digital assets, technology, gold, aviation and shipping.
It also sanctioned nearly 60 entities, individuals and vessels accused of enabling Iranian nuclear and missile procurement, cyber operations and oil-revenue generation.
Bessent said Washington knew the identities of the foreign institutions helping Iran turn oil into revenue. He indicated that the administration preferred to begin with private diplomatic engagement before publicly imposing penalties.
“No nation should expect to enjoy the rewards of our system while helping those who seek to destroy it,” he said.
“It is now a time for world leaders to make a decision between prosperity and isolation, peace and terror, America and Iran.”
Bessent said the first announcements were the beginning of a longer campaign. He expected further sanctions to be imposed regularly and disclosed that a financial institution could be targeted before the end of the week.
“You will see a wave of sanctions when you leave this meeting today, and you should expect that cadence to continue,” he said.
He rejected suggestions that the administration should have immediately sanctioned every identified foreign entity without offering time to comply.
“Secondary sanctions are a very powerful tool,” he said. “We believe that a warning shot and a level set of expectations is appropriate.”
Source: IANS
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