Shafaq News- Washington

The US Treasury provided global financial institutions with information aimed at helping them “shut down revenue streams and procurement networks” linked to Iran, the department announced on Wednesday, as part of the Operation Economic Outcast campaign.

The Treasury’s Financial Crimes Enforcement Network (FinCEN) shared the information through its Exchange program, a voluntary public-private partnership that brings financial institutions together with law enforcement and other stakeholders. The meeting focused on networks and facilitators that the Treasury says give Iran and allied groups access to US correspondent banking relationships and “allow them to launder funds, procure weapons, and bankroll regional terrorist activity.”

Treasury Secretary Scott Bessent said Washington would continue working with financial institutions and the private sector to “sever every economic lifeline Tehran has left.”

The United States launched Operation Economic Outcast on Aug. 24, with Bessent describing it as a campaign to isolate Iran from global economic and financial networks. The latest sanctions under the campaign came on Monday, when the Treasury imposed additional sanctions on Russia’s VTB Bank, accusing the lender of involvement in Iranian sanctions evasion.