The United States has warned countries and companies that continue doing business with Iran that they could face penalties as Washington intensifies its economic campaign against Tehran.

US Treasury Secretary Scott Bessent on Monday announced what the Trump administration calls “Operation Economic Outcast,” a new push aimed at cutting Iran off from its remaining financial and commercial links around the world. Bessent earlier described the campaign as an “economic D-Day” and the largest financial offensive Washington has mounted against an adversary.

The new measures are aimed at companies, financial institutions and other entities that help Iran generate revenue or evade existing US sanctions. Washington is also threatening secondary sanctions that could restrict foreign firms and governments from accessing the US financial system if they continue significant dealings with Tehran.

China is expected to be a major focus of the campaign because it remains the principal buyer of Iranian crude. Analysts say China’s continued purchases will be critical in determining how much pressure the new measures can exert on Tehran’s oil revenues.

Iran, however, rejected Washington’s latest pressure campaign and portrayed it as evidence that the United States had failed to force Tehran into submission through military means.

Iranian officials have argued that Washington’s decision to mobilize a wider range of economic tools contradicts US claims that Iran’s military and nuclear capabilities have already been severely weakened.

Tehran has also warned governments against joining the US sanctions campaign. Iranian officials said countries that cooperate with the measures could face retaliation, further raising the risk of a broader economic confrontation.

The pressure comes as Iran’s economy continues to deteriorate after months of war, sanctions and disruptions to its oil trade. The Iranian rial fell to a new record low this week, while inflation and rising prices have further strained household finances.

Despite the growing pressure, Iran still holds leverage through the Strait of Hormuz, one of the world’s most important energy routes.

Iran’s newly established Persian Gulf Strait Authority has blacklisted 45 tankers for allegedly violating its transit rules and warned that the vessels could face fines, detention or confiscation of cargo. Tehran has also maintained that reopening the waterway on broader terms would require concessions from Washington, including the lifting of the US naval blockade and oil sanctions.

Inside Iran, the worsening economic situation has also fueled debate over how long Tehran can sustain the confrontation.

Iranian President Masoud Pezeshkian recently said the war would eventually have to end and suggested it would be better to reach that point sooner rather than later. Parliament Speaker Mohammad Bagher Ghalibaf has likewise warned that military strength alone would not be enough if economic hardship continued to deepen and ordinary Iranians remained under pressure.

At the same time, regional governments are continuing efforts to bring Washington and Tehran back to negotiations.

Pakistan, Oman and Qatar have remained involved in diplomatic efforts to reopen dialogue, with officials describing a negotiated settlement as the preferred way out of the conflict. Direct US-Iran talks, however, remain stalled.

For now, the confrontation is increasingly shifting toward economic pressure, with Washington seeking to isolate Iran and Tehran warning that countries helping enforce the sanctions could face consequences of their own.

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