Scott Bessent says Iran sanctions are collapsing the regime's economy

Key Points:

• Treasury Secretary Scott Bessent announced an intensified U.S. financial campaign against Iran, focusing on cutting off foreign banking channels and isolating the Iranian economy through Operation Economic Outcast.
• The operation, ongoing for eight weeks, aims to block financial and commercial connections enabling Iran to evade sanctions, potentially causing a 20-25% contraction in Iran’s GDP.
• New measures include shutting down Iranian airline travel and targeting banking operations linked to countries like Egypt, Turkey, and Russia, with significant transactions identified through an Egyptian bank's Dubai branches.
• Bessent highlighted the economic pressure affecting both the Iranian regime and ordinary citizens, noting unpaid military personnel and absent police officers, indicating growing internal strain.
• The U.S. Treasury plans to continue enforcement actions, citing cooperation from international partners and describing the Iranian regime as desperate under mounting economic isolation.