US sanctions 36 Iran-linked targets under ‘Economic D-Day’ campaign

The US Treasury Department announced Tuesday that it imposed sanctions on 36 targets linked to Iran’s aviation sector, including 27 airlines, accusing the sector of facilitating the movement of weapons, personnel and illicit cargo.

The action, carried out under the Treasury’s “Operation Economic Outcast,” includes sanctions against Iran’s remaining active airlines, as well as companies and intermediaries accused of helping Tehran acquire US-origin aircraft and aviation technology.

US Treasury Secretary Scott Bessent said the measures were intended to cut financial lifelines supporting the government and warned companies doing business with sanctioned Iranian airlines that they could face exclusion from the global financial system.

The Treasury Department said the Office of Foreign Assets Control (OFAC) was also targeting third-country firms involved in activities supporting sanctioned Iranian aviation operations.

Separately, the Financial Crimes Enforcement Network (FinCEN) issued an alert urging financial institutions to identify and report suspicious transactions linked to Iran’s procurement of commercial aircraft and aircraft parts.

Iranian aviation networks have used front companies, intermediaries and complex transshipment routes in Europe, the Middle East, Africa and Asia to obscure the ultimate Iranian recipients of aircraft, components and other aviation-related goods, according to the Treasury Department.

The agency also announced the suspension of three aviation-related authorizations concerning Iran, including provisions related to overflights and the operation of certain US-origin or US-controlled commercial aircraft into Iran. Aviation safety-related requests will be considered on a case-by-case basis, it said.

The Treasury Department said the measures build on sanctions imposed earlier this year and form part of a broader campaign announced in August to isolate Iran from the international financial system.

Assets and interests in property belonging to designated persons within US jurisdiction are blocked under the new measures, while US persons are generally prohibited from conducting transactions involving them unless authorized by OFAC.