The US Treasury has announced a new phase of sanctions targeting international networks that facilitate Iran's access to digital assets, technology, gold, aviation, and shipping.

US Treasury Secretary Scott Bessent announced on August 24 a new strategy to disrupt Iran's economic lifelines by targeting foreign intermediaries and international networks. The measures, which include sanctions against approximately 60 individuals, entities, and vessels, aim to restrict Iran's use of digital assets, technology, gold, aviation, and shipping to bypass existing financial constraints.

Targeting International Financial Networks

The new US approach focuses on secondary sanctions, pressuring foreign entities that assist Iran in moving money outside the formal banking system. Secretary Bessent warned that any entity facilitating money laundering for Iran faces removal from the US dollar-based financial system. While the US announced measures against roughly 60 targets, it did not include major Chinese banks in this latest round of enforcement.

Economic Impact on Iranian Businesses

Domestic businesses in Iran are facing severe inflation and operational difficulties, with some reporting that holding inventory is more profitable than selling it due to rapidly rising costs. Trading companies are struggling to import raw materials as exchange houses increasingly refuse to process payments. Reports indicate significant layoffs, with one trading company employee stating that over 70% of staff were dismissed in the last six months.

Expert Perspective on Sanctions

Political economy commentator Alireza Salavati expressed skepticism that the measures will cause a fundamental strategic shift, noting that Iran is already heavily sanctioned. He suggested the primary impact may be psychological, potentially intensifying inflationary expectations. Salavati also warned that restricting formal financial channels could incentivize the growth of an even larger, less controlled underground economy.