The Trump administration on Monday launched Operation Economic Outcast, a sweeping new sanctions campaign on what officials called "Economic D-Day."Treasury Secretary Scott Bessent described the effort as a sustained campaign ta rgeting Iran's financial connections around the world.The first phase of the campaign includes sanctions on dozens of individuals and vessels from several countries that the U.S. says are connected to Iran's nuclear and missile procurement, cyber operations and oil revenue networks.The administration is also expanding sanctions to target five key parts of Iran's economy: digital assets, technology, gold, aviation and shipping. The move makes it easier for the U.S. to penalize foreign companies and individuals that continue doing business with Iran in those sectors.RELATED STORY | Trump now seeks compensation from Iran after it demanded US pay for cost of warBessent said the U.S. will give countries a deadline to stop certain Iran-related business and other activity outlined by the administration. Those that continue helping Iran evade sanctions or doing business with the government could face penalties, including being cut off from the U.S. financial system.Sanctions against Iran are nothing new, but the latest measures significantly expand the administration's ability to target foreign companies and individuals that continue doing business with the country.Bessent said the administration's goal is to "sever every economic lifeline" supporting the Iranian government."Those who stand with the United States will reap the rewards of our partnership," Bessent said. "Those who tether themselves to Tehran should expect to share in the isolation of a withering regime."Bessent's announcement is the latest effort to pressure Iran to negotiate an end to the war, which began in February when the U.S. and Israel launched joint strikes on the country.RELATED STORY | Trump threatens Oman as it works with Iran on a Strait of Hormuz deal ...read more read less