Overview
- On Monday, August 24, the U.S. Department of the Treasury announced a coordinated financial campaign called a “Día D económico” and announced sanctions and designations against more than sixty entities, individuals and vessels linked to Iran.
- The Treasury said it adopted formal determinations that target five sectors—digital assets, technology, gold, aviation and maritime—and warned that banks and firms that help Iran could be barred from using the U.S. dollar system.
- Iran rejected Washington’s narrative, warned countries that cooperate with the campaign would face consequences, and repeated conditions for reopening the Strait of Hormuz that include lifting oil sanctions and ending a U.S. naval blockade.
- China’s foreign ministry signaled it will defend its trade ties and take necessary measures if U.S. secondary sanctions reach Chinese companies or other states that buy Iranian oil.
- The campaign raises risks for global trade and financial links because cutting Iran’s revenue depends on cooperation from major buyers and banks, past sanctions have often hit civilians hardest, and the measures could widen diplomatic and economic friction with key partners.