Operation Economic Outcast Targets Iran’s International Financial Networks and Shadow Banking Architecture

Action Disrupts Iraqi Bank Enabling Iranian Sanctions Evasion and Cuts Off Key Foreign Currency LifelinesWASHINGTON—Today, as part of Operation Economic Outcast, the U.S. Department of the Treasury disrupted Iran’s efforts to infiltrate the international financial system through an Iraqi bank that also supports Iran’s terrorist proxy militia groups. By dismantling these institutions—including offshore banks and shadow financiers that have moved hundreds of millions of dollars through shell companies and foreign‑exchange specialists across the Middle East and Asia—Treasury is severing critical revenue streams that sustain Iran’s military and proxy forces. “The noose is tightening around Iran’s economy, and not even Iran’s so-called allies can save it,” said Secretary of the Treasury Scott Bessent. “The Department of the Treasury will not relent until the Iranian regime’s coffers are empty and every remaining financial lifeline sustaining its war machine has been severed.”In coordination with today’s action, the U.S.