Washington’s new Iran sanctions reveal more than America would like

After an inconclusive military campaign, Washington is leaning on the dollar because coercion now costs less than another failed air war The US has announced Operation Economic Outcast, which it calls “an unprecedented, whole-of-government, economic campaign against the Islamic Republic of Iran” and compares to D-Day in its effort to end “the Iranian threat.” The US Treasury has expanded the scope of potential secondary sanctions across five areas of the Iranian economy, including digital assets, technology, gold, aviation, and shipping.

At the same time, the Office of Foreign Assets Control has added nearly 60 companies, individuals, and vessels to its sanctions lists over alleged links to Iranian oil revenue, procurement for missile and nuclear programs, cyberoperations, and the activities of the Islamic Revolutionary Guard Corps.

Five tankers have been designated as blocked property, while several licenses covering certain remittances and educational and cultural exchanges have been suspended.

Despite the forceful rhetoric accompanying the announcement, Washington has not imposed a comprehensive ban on all trade with Iran.

The new sectoral determinations do not mean that every foreign company conducting a transaction with an Iranian counterpart will automatically be sanctioned.

Rather, they provide the US administration with legal grounds for future enforcement, while specific penalties will continue to be imposed selectively.

Washington is building a mechanism for more sustained pressure and preparing to direct that mechanism increasingly against Tehran’s foreign partners.

At the same time, the State Department’s Rewards for Justice program has renewed attention to its offer of up to $10 million dollars for information on senior IRGC leaders and associated members of the Iranian establishment, including Supreme Leader Mojtaba Khamenei.

The reward was first announced in March 2026 and has now become part of a revived psychological and intelligence campaign against Iran’s leadership and security apparatus.

Read more US unveils ‘economic onslaught’ against Iran An economic offensive after an inconclusive military one The turn towards economic warfare comes after nearly six months of fighting.

American and Israeli strikes inflicted substantial damage on Iran, destroyed parts of its military infrastructure and weakened elements of its regional network, but they failed to force Tehran to surrender or change its policies.

Iran has retained missile and drone capabilities, the ability to threaten installations across the Gulf, and, most importantly, considerable influence over maritime traffic through the Strait of Hormuz.

The military campaign has imposed a heavy cost on the US.