The Treasury Department has launched Operation “Economic Fury” against Iran, Defense Secretary Pete Hegseth said on Thursday, describing it as a move designed to escalate economic pressure on the Iranian government.
During a war press briefing, Hegseth urged Iran to “choose wisely”, warning that the U.S. military is prepared to continue combat if Tehran makes a “poor” choice.
Hegseth also highlighted that the blockade of Iranian ports and the Strait of Hormuz will be maintained “for as long as necessary.”
Treasury Targets Iran’s Illicit Networks
The U.S. Treasury is escalating pressure on Iran by targeting two illicit networks. The first is the Shamkhani network, a multi-billion-dollar Iranian-Russian petroleum empire tied to senior regime figures, Iranian oil shipping magnate Mohammad Hossein Shamkhani, building on OFAC’s largest-ever single designation under the maximum pressure campaign.
The second is a Hezbollah money laundering scheme, uncovered in a joint OFAC/HSI investigation, involving an Iranian national and three companies that traded Iranian oil for Venezuelan gold to finance Hezbollah and the IRGC-Qods …
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