Overview
- The Treasury, which announced the operation on Monday, Aug. 24, designated more than 60 entities, individuals and vessels and said the measures will hit digital assets, technology, gold, aviation and maritime transport.
- Officials warned that banks, companies or countries that help Iran move money or trade risk being cut off from the U.S. dollar system through expanded secondary sanctions.
- Tehran rejected the campaign, warned states not to cooperate, said it may respond beyond defensive measures and reported emergency economic steps as the rial plunged to record lows.
- Pentagon leaders said they have not ruled out kinetic military options in or near the Strait of Hormuz if Iran or its partners escalate, raising the prospect of economic pressure triggering security flashpoints.
- The operation depends on persuading major buyers and intermediaries, notably China, to comply and follows decades of U.S. sanctions whose record shows severe economic pain for Iranians with mixed success in changing Tehran’s behavior.