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The Trump administration has announced it will roll out a sweeping sanctions regime against Iran over the coming weeks, with the goal of “sever[ing] every economic lifeline” to Iran and its 92 million residents.

The “economic d-day” plan, dubbed “Operation Economic Outcast,” was unveiled by Treasury Secretary Scott Bessent in a press conference on Monday. The plan involves a wide-ranging sanctions regime, including an expanded mechanism for secondary sanctions that could be unrolled in coming weeks if Iran doesn’t soften its positions in negotiations or if allied countries like China don’t comply.

The department said that it has identified 60 entities and countries it’s prepared to impose secondary sanctions on soon. Bessent also called for the shuttering of every branch of the state-owned Bank Melli, Iran’s largest bank, which has operations in about a dozen countries, including the U.K. and France.

“Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” Bessent said. “Beginning today, the actions of [the] Treasury and other agencies will tighten the noose and block every potential source of revenue that funds the [Islamic Revolutionary Guard Corps] and the evil Iranian regime.”

Bessent claimed that his department has identified “every node, every facilitator, every network” that Iran maintains financially, including those used to........

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