The Trump administration shifted from near-term military action toward economic and maritime pressure on Iran, expanding Treasury’s Operation Economic Outcast across digital assets, technology, gold, aviation, shipping, oil and banking. The August 24, 2026 package ultimately designated 78 individuals, entities and vessels, although initial descriptions referred to nearly 60 targets. Bank Melli, Iran’s largest lender, was targeted again, with Treasury Secretary Scott Bessent demanding that every foreign branch shut down and warning countries doing business with Iran would face punishment; an employee said its Dubai branch remained open. OFAC also authorized future sanctions on foreign persons operating in or supporting Iran’s digital-asset sector. China, which receives more than 80% of Iranian oil shipments and is Tehran’s biggest trading partner, complicates the campaign as President Donald Trump prepares to host President Xi Jinping. Beijing said its cooperation with Iran complies with international law and opposed unilateral sanctions. Analysts expect limited Chinese cooperation, potentially through reduced Iranian oil purchases, but not a complete break. Iranian officials rejected the pressure, while Strait of Hormuz restrictions kept oil and U.S. fuel prices elevated. Analysts said the measures could deepen economic pain without quickly changing Tehran’s behavior.