Treasury Secretary Scott Bessent has launched "Operation Economic Fury," a campaign against the Iranian regime aimed at increasing economic isolation. The Treasury has sanctioned over two dozen individuals, companies, and vessels, targeting oil networks, terror financiers, and global banks that facilitate Tehran's activities. The operation also targets the multi-billion dollar petroleum empire of Mohammad Hossein Shamkhani, the son of late senior Iranian security official Ali Shamkani. The move is likely to tighten global energy markets, with the United States not renewing general licenses that allowed for the purchase of Iranian and Russian oil. The most significant escalation is the administration's willingness to use secondary sanctions against third-party entities that do business with sanctioned Iranian actors.