Iran sanctions: How to make an outcast out of a pariah
But US officials are betting that cranking up the pressure yet another notch – Operation Economic Outcast includes slapping sanctions on more than 60 targets, threatening sanctions on countries dealing with Iran and forcing every branch of Iran’s Bank Melli to be closed – will be enough to finally topple the regime, or at least spark the diplomatic breakthrough the economy craves.
Washington’s heavy sanctions hand in recent years – against Russia in the Biden years and now Iran under Trump – could embolden countries to find an alternative to the dollar, undermining the US role in the global banking system run by the SWIFT payment network.
That’s why Operation Economic Outcast, the highly-anticipated sanctions campaign unveiled by US officials this week, doesn’t pack as much of a punch as the Treasury Department’s “Economic D-Day” rhetoric might suggest.
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