The Trump administration announced a new plan called “Operation Economic Outcast” aimed at isolating Iran’s economy by imposing secondary sanctions on countries and entities that help Tehran conduct business.

Treasury Secretary Scott Bessent said the United States will begin giving countries timelines to end activities that support Iran, warning that entities facilitating Iranian money laundering could lose access to the U.S. dollar system.

The administration indicated that even Chinese companies and banks could face sanctions if they help Iran sell oil or move money, despite ongoing efforts to maintain stable U.S.-China relations.

The campaign comes as the U.S.-Iran conflict approaches six months, with a previous ceasefire largely collapsed and the strategically important Strait of Hormuz still significantly disrupted, CNBC has reported.

Bessent said the goal is to cut off Iran’s economic lifelines by targeting oil, finance, shipping, aviation, technology, gold and digital asset networks that support the Iranian government.