All articles tagged with #secondary sanctions
US Treasury Secretary Scott Bessent confirmed that Washington will sanction a large, unnamed bank on Monday, September 14. The action was postponed from Friday to allow for 9/11 anniversary ceremonies. This move is part of 'Operation Economic Outcast,' a broader campaign to isolate Iran’s financial networks following a six-month conflict.
As the US-Iran conflict reaches its six-month mark, President Trump has declared the Strait of Hormuz free of mines and announced 'Operation Economic Outcast,' a new wave of secondary sanctions targeting Iran’s trade partners. While Washington claims economic pressure is forcing Tehran to the brink, Iran maintains resilience, and analysts question whether these measures will compel a return to negotiations, especially given China’s refusal to cut ties with Tehran.
Treasury Secretary Scott Bessent announced 'Operation Economic Outcast,' a new wave of secondary sanctions targeting nations that trade with Iran. The move aims to force Tehran into isolation by threatening global financial institutions with exclusion from the dollar system, marking a shift from military strikes to economic pressure amid a stalled conflict.
Western sanctions, including the global price cap and US secondary sanctions, are dragging down Russia’s oil rents as Urals crude trades at deep discounts and a growing share of output stays in transit; analysts note a roughly 20% drop in oil and gas revenue last year, with Moscow relying on asset sales and higher domestic taxes to fill the gap, while Putin shows little sign of curtailing the war.
The European Union is considering implementing secondary sanctions to prevent third countries from aiding Russia in bypassing existing sanctions, focusing on measures against Russian sectors and using tools like anti-circumvention policies, amid ongoing discussions and a new sanctions package.