Treasury Expands Iran Sanctions Without Targeting Major Chinese Banks

The Trump administration has revealed the details of its “economic D-Day” campaign against Iran, expanding secondary sanctions that threaten foreign companies with exclusion from the U.S. financial system for continuing to do business with Tehran and targeting nearly 60 individuals, entities and vessels in the first round of new measures. Treasury Secretary Scott Bessent on Monday formally launched “Operation Economic Outcast,” giving countries a defined, but unspecified, timeline to shut down Iran-related activity identified…