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ConflictUS Treasury sanctions all remaining Iranian airlines to tighten economic squeeze
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The U.S. Treasury Department on Tuesday sanctioned 27 Iranian airlines and several other entities as part of its ongoing 'Operation Economic Outcast' campaign to isolate Iran's economy. The move targets all Iranian airlines not previously under sanctions, aiming to cut them off from the global financial system. Treasury Secretary Scott Bessent warned that anyone doing business with these airlines risks being cut off from global finance. The sanctions come as Tehran and its proxies continue attacks in the Strait of Hormuz region, further entangling other countries in the U.S.'s more-than-six-month war. The situation has placed additional pressure on global energy prices, with oil rising after Iran-allied militants in Yemen attacked Saudi energy facilities, forcing a temporary halt to some operations. The article notes this is breaking news and will be updated.
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A Boeing 747 (top) belonging to the Iranian Mahan Air airline is photographed at Mehrabad Airport in western Tehran, Iran, on October 16, 2024. Morteza Nikoubazl | Nurphoto | Getty Images
The U.S. Treasury Department on Tuesday sanctioned 27 Iranian airlines and a handful of other entities as part of its ongoing effort to isolate Iran's economy.
The move comes as Tehran and its proxies continue to launch attacks in the Strait of Hormuz and the surrounding region, further entangling other countries in the U.S.'s more-than-six-month war and placing additional pressure on global energy prices.
The latest U.S. action under "Operation Economic Outcast" targets all Iranian airlines that were not already facing sanctions.
"Let this be a warning to anyone doing business with Iran's remaining airlines, all of which we sanctioned today: You are at risk of being cut off from the global financial system," Treasury Secretary Scott Bessent said in a statement.
Oil prices rose after Iran-allied militants in Yemen attacked several energy facilities in Saudi Arabia, forcing a temporary halt to some operations.
This is breaking news. Please check back for updates.
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US Treasury sanctions all remaining Iranian airlines, warns of global financial cutoff