News Summary

• u.s. Treasury Secretary Scott Bessent has unveiled a new wave of sanctions on Iran, branded ‘Operation Economic Outcast’ The aim is to sever every economic lifeline sustaining the government in Tehran until it stands alone.
• Iran has spent much of the past two decades under Western sanctions, a pressure that has pushed its economy away from Europe and towards a narrowing group of Asian and regional partners.
• In 2024, Iran exported some $56bn worth of goods to at least 112 countries and territories, according to official customs figures.