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Trump administration threatens new sanctions on countries that refuse to cut economic ties with Iran
Scott Bessent said countries and firms that keep trading with Tehran could be cut off from the dollar system.
- On Monday, Aug. 24, 2026, Treasury Secretary Scott Bessent launched "Operation Economic Outcast" under President Donald Trump's directive, designating nearly 60 entities, individuals, and vessels for sanctions targeting five critical sectors including digital assets, technology, gold, aviation, and shipping.
- Escalating pressure six months into an unpopular war, the Trump administration framed the campaign as an "economic D-Day," aiming to force Iranian capitulation as military efforts failed to reopen the Strait of Hormuz and secure regional shipping.
- Bessent warned that entities facilitating Iranian trade risk exclusion from the U.S. dollar system, while Iran's rial hit a record low of 2.02 million per dollar on Monday, reflecting mounting economic strain on the nation.
- Beijing rejected the measures, with Chinese Foreign Ministry spokesperson Lin Jian stating sanctions "lead to escalation" that "serves no one's interests," while the UAE suspended all trade and the U.S. Treasury refrained from targeting major Chinese financial institutions.
- Analysts remain skeptical of the plan, citing Iran's decades-long resilience to sanctions and the challenge of decoupling from China, with enforcement uncertain ahead of a high-stakes summit between Trump and Chinese President Xi Jinping next month.
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White House says no US-Iran negotiations underway
‘No negotiations are happening right now and this will continue until the president feels that maybe they come to the table in a meaningful way. We have not seen that yet,’ White House press secretary Karoline Leavitt says
·Ankara, Türkiye
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DevdiscourseWhite House says no negotiations with Iran, all options on table
WASHINGTON: The United States and Iran are not currently in talks to end the war as Washington focuses on pressuring Tehran economically, but all options remain "on the table", White House press secretary Karoline Leavitt said in an interview with Fox News on Thursday (Aug 27). "What President Trump's nu
·Singapore, Singapore
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Total News Sources340
Leaning Left67Leaning Right58Center91Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 31%
C 42%
R 27%
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