Secretary Scott Bessent takes MAJOR action against Russian bank.

Operation Economic Outcast is a U.S. Treasury campaign launched August 24, 2026, by Secretary Scott Bessent at President Trump’s direction. It is also called “Economic D-Day.” The stated goal is to cut every remaining economic lifeline to Iran’s government and the IRGC by targeting oil-smuggling networks, sanctions-evasion channels, and foreign enablers. Treasury said it had already mapped those networks and would apply a “zero-leakage” approach. 

On launch day Treasury added new sectoral determinations covering digital assets, technology, gold, aviation, and shipping, and designated more than 60 entities, individuals, and vessels. Later actions under the same campaign have included additional sanctions on Russia’s VTB Bank, a Turkish bank, and Iranian airlines. Countries and financial institutions that continue dealing with Iran face the threat of secondary sanctions.