What Happened
Economic Warfare Escalates Amid Uncertain Diplomatic Talks
The US has targeted individuals and firms around the globe accused of facilitating Iran’s military supply chain, as part of its Operation Economic Outcast campaign. The Treasury Department sanctioned 10 entities based in Iran, Hong Kong, and Pakistan, aiming to disrupt Iran’s defense systems and further degrade its ability to reconstitute its weapons program. The move comes as Iran’s currency hits a record low, with the economy under duress from international sanctions and a US naval blockade on Iranian oil. The latest financial penalties were reported by the Associated Press.