Treasury's 'absolute isolation' effort against Iran is inflicting pain: official

Key Points:

• Erin Browne, Under Secretary for International Affairs at the U.S. Treasury Department, stated that Iran is aware the U.S. is winning economically as Operation Economic Outcast intensifies sanctions, causing the Iranian rial to hit record lows.
• Launched on August 24, Operation Economic Outcast aims to isolate Iran from the global financial system by targeting key sectors such as digital assets, technology, gold, aviation, and shipping to cut off revenue streams funding terrorism.
• The campaign involves coordinated efforts from the Treasury, State, and Defense Departments, including secondary sanctions on entities doing business with Iran and sanctions on individuals linked to military procurement.
• Recent actions include sanctions against the A7 Network, a shadow banking system tied to Russia used by Iran to evade sanctions, and targeting Iran's rail and automotive industries to dismantle its industrial infrastructure.
• Treasury Secretary Scott Bessent highlighted that Iran loaded no crude oil onto tankers in September, emphasizing the U.S. strategy to sever Iran’s critical revenue sources under the Trump administration.