Treasury ran two October rounds under the Operation Economic Outcast name. On 8 October it targeted what it called the regime's remaining shadow fleet, mostly LPG carriers and bitumen tankers, and linked firms in India, Turkey, the UAE and the UK. On 15 October it designated Iranian exchange houses, two offshore banks and a Baghdad bank, the International Development Bank for Investment and Finance, with General Licence FF for the wind-down.

Treasury Secretary Scott Bessent launched the campaign on 24 August 2026, calling it an economic "D-Day" aimed at cutting every lifeline that sustains the Iranian state. Later tranches carried the brand onto a Turkish banking group on 4 September, Kataib Hezbollah and Hezbollah money networks in Iraq and Lebanon on 10 September, and the crypto exchange BitBank on 17 September.

The campaign moved sanctions pressure from crude cargoes towards the banks, money changers and secondary products Iran still trades.

Common Questions

What is Operation Economic Outcast?

A US Treasury sanctions campaign launched by Secretary Scott Bessent on 24 August 2026 to cut off the financial and shipping networks that sustain the Iranian state.Source: US Treasury

Who was sanctioned under Operation Economic Outcast on 10 September 2026?

The State Department sanctioned Kataib Hezbollah, Hezbollah and their financial networks in Iraq and Lebanon under the operation's name.Source: US State Department

Which US department leads Operation Economic Outcast?

The Treasury Department issues the sanctions under Secretary Scott Bessent; the State Department has publicly confirmed individual actions taken under the operation's name.Source: JNS

Who did Operation Economic Outcast sanction in October 2026?

On 8 October Treasury targeted Iran's remaining shadow fleet, mainly LPG and bitumen tankers. On 15 October it designated Iranian exchange houses, two offshore banks and an Iraqi bank.Source: US Treasury press releases sb0653 and sb0660

Why did the US sanction an Iraqi bank under Operation Economic Outcast?

Treasury says the International Development Bank for Investment and Finance abused its access to the dissolved US dollar wire auction and sends profits to Iran monthly in dollars.Source: US Treasury press release sb0660

Source Material

Operation Economic Outcast Targets Iran's International Financial Networks and Shadow Banking Architecture Operation Economic Outcast Neutralizes Iranian Regime's Remaining Shadow Fleet Network US sanctions against individuals, businesses supporting Hezbollah, Kata'ib Hezbollah Operation Economic Outcast Strikes Iran's Global Terrorist Proxy Network