After an inconclusive military campaign, Washington is leaning on the dollar because coercion now costs less than another failed air war
The US has announced Operation Economic Outcast, which it calls “an unprecedented, whole-of-government, economic campaign against the Islamic Republic of Iran” and compares to D-Day in its effort to end “the Iranian threat.”
The US Treasury has expanded the scope of potential secondary sanctions across five areas of the Iranian economy, including digital assets, technology, gold, aviation, and shipping. At the same time, the Office of Foreign Assets Control has added nearly 60 companies, individuals, and…
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