Summary The latest sanctions are part of the Treasury Department's "Operation Economic Outcast
WASHINGTON (Reuters) - The U.S. government announced new sanctions on Thursday against firms and individuals that it says are aiding Hezbollah and other Iranian proxies in the Middle East as it intensified its campaign to isolate Iran economically.
The latest sanctions are part of the Treasury Department's "Operation Economic Outcast," first announced August 24, which aim to cut off the revenues that Tehran is using to fund the war, build missiles, conduct cyberattacks and support the Islamic Revolutionary Guard Corps, or IRGC.
Thursday's actions by Treasury's Office of Foreign Assets Control hit entities and individuals in Iraq, Lebanon and Turkey that Washington said supported Kata’ib Hezbollah, an Iraqi Shia paramilitary group under the command of the IRGC, and Hezbollah, a Lebanese Shia party, Treasury said in a statement.
Treasury also announced a settlement with a U.S. citizen who agreed to pay $1.43 million to settle their potential civil liability for 39 apparent violations of sanctions on Iran, and issued a broad whistleblower appeal for tips on any sanctions evasion or money laundering by Iran.
OFAC also issued a bulletin making clear that it would deny most Iran-related licensing requests, except in exceptional circumstances, and said its licensing division had immediately begun denying "the vast majority" of outstanding Iran-related specific license requests.
"OFAC will maintain this licensing policy until Iran changes its behavior, including obstructing the Strait of Hormuz, attacking U.S. personnel and partners in the Gulf, and pursuing nuclear and conventional weapons," Treasury said.
“Operation Economic Outcast is targeting those who continue to stand with the failing Iranian regime,” Treasury Secretary Scott Bessent said in a statement. “Whether they finance terror, launder money, or help Iran evade sanctions, we will find them, cut them off from the U.S. financial system, and dismantle the networks keeping the regime afloat.”
