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Treasury Secretary Scott Bessent Launches Operation Economic Outcast to Sever Iran's Financial Lifelines

The administration announced a new campaign against the Iranian regime titled Operation Economic Outcast. Treasury Secretary Scott Bessent stated that the objective is to sever every economic lifeline sustaining the regime until Tehran stands alone. The first round of designations included more than 60 entities, individuals, and vessels. Among these, Bank Melli was identified as a primary target, with Bessent noting that every foreign branch of the Iranian state-owned bank must be shuttered. Britain has also designated the London subsidiary of Bank Melli under its nuclear sanctions regime. While the bank still holds a British banking license, it has been barred from taking new customers or writing new loans since September 2025. The bank's British auditor warned of material uncertainty regarding its status as a going concern. Additionally, the administration sanctioned Iranian banker Ali Ansari, who is described as a key financier for Supreme Leader Mojtaba Khamenei. Two luxury penthouses in London, linked to Khamenei, were purchased by Ansari and are now being up for sale following mortgage defaults. These properties are located near the Israeli Embassy and are being sold in receivership to recover debts.

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