Welcome back to World Brief, where we’re looking at a U.S. sanctions campaign against Iran and its allies, Kazakhstan’s landslide election results, and the cancellation of another U.S.-South Korea military exercise.
No One Is Safe
U.S. Treasury Secretary Scott Bessent on Monday unveiled Operation Economic Outcast: a campaign to cut off Iran from the global economy by threatening so-called secondary sanctions against any country or entity that continues to do business with Tehran. That reportedly includes sanctions on an unnamed major financial institution, to be announced by the end of this week.
“Our objective is to sever every economic pipeline that sustains this tyrannical regime until Tehran stands alone,” Bessent said in a press conference. “Those who stand with the United States will reap the rewards of our partnership. Those who tether themselves to the Iranian regime should expect to share in the isolation of a withering regime.”
Operation Economic Outcast includes new sanctions on nearly 60 individuals, entities, and vessels that allegedly enable Iran’s nuclear and missile procurement, cyberoperations, and oil revenue programs. It also expands secondary sanctions on anyone who operates in or provides services to five critical Iranian sectors: aviation, digital assets, gold, shipping, and technology.
“Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system,” Bessent added, without specifying what removal might entail. He also stressed that U.S. President Donald Trump has already begun making specific requests to world leaders on how they should cease their interactions with Tehran.
Trump initially warned of an “Economic D-Day” last week, during which he claimed (without providing evidence) that Iran’s navy and air force are entirely destroyed, its military facilities are decimated, and its currency is worthless. The Iranian rial hit an all-time low on Monday, dropping to 2.02 million to the U.S. dollar. Yet Iran’s military continues to launch attacks on commercial ships attempting to traverse the Strait of Hormuz.
Tehran’s leadership dismissed Bessent’s threats as “bombast” on Monday and expressed confidence in the country’s partners. “The United States is not in an economic position to further restrict its relations with other countries,” chief Iranian negotiator Mohammad Bagher Ghalibaf wrote on X, less than an hour before Bessent’s press conference.
Bessent refused to specify which countries will be subjected to new U.S. sanctions. However, experts suspect that Beijing, which has refused to reduce its business ties with Tehran, may become a target. Last year, China purchased more than 80 percent of Iran’s shipped oil, and it continues to act as Iran’s top trading partner. When asked whether Chinese banks might be hit, Bessent warned that “no one is above the reach of U.S. sanctions.”
Ahead of Bessent’s press conference, the Chinese Foreign Ministry vowed to do what is necessary to protect its interests, and it urged all parties to act with restraint. Previously, Beijing has argued that economic pressure on Iran will do little to end the six-month war. How this might impact Trump’s upcoming summit with Chinese President Xi Jinping, slated to be held in Washington next month, is still to be seen.
Bessent gave no deadline for compliance, but he warned that “we do not have infinite patience here.” U.S. officials told Axios that the secondary sanctions campaign will likely be the White House’s primary tactic in the war until at least the U.S. midterm elections in November, after which another military campaign could be back on the table.
Today’s Most Read
The World This Week
Tuesday, Aug. 25: African health ministers begin a four-day meeting in Ethiopia for the World Health Organization’s regional summit.
European Council President António Costa begins a tour of European Union capitals.
Wednesday, Aug. 26: French Prime Minister Sébastien Lecornu begins a two-day visit to the Indian Ocean archipelago of Mayotte.
The annual Super Garuda Shield military exercise kicks off in Indonesia. Other participating countries are Australia, Canada, France, Japan, New Zealand, Singapore, South Korea, the United Kingdom, and the United States.
Friday, Aug. 28: Germany hosts the Baltic Sea Security Summit.
Saturday, Aug. 29: Iceland holds a referendum on whether to restart talks to join the European Union.
Sunday, Aug. 30: Guinea-Bissau holds a constitutional referendum.
Palau begins hosting the six-day Pacific Islands Forum.
Monday, Aug. 31: Three Canadian constituencies hold by-elections.
Slovenia hosts the two-day Bled Strategic Forum.
What We’re Following
Landslide win. Kazakh officials announced on Monday that Adilet, a newly formed pro-government party, won an overwhelming majority in early parliamentary elections held the day before. With 71 percent of the vote, Adilet’s victory solidifies President Kassym-Jomart Tokayev’s control over the country at the expense of individuals linked to his predecessor, Nursultan Nazarbayev. Four small opposition parties also won seats in parliament, though they are also widely seen as loyal to Tokayev.
The outcome has sparked condemnation from international observers, who argue that Adilet had “an undue advantage that blurred the line between state and party.” This weekend’s election, “while technically well prepared, took place in an environment lacking political pluralism,” the Organization for Security and Cooperation in Europe said in a statement released on Monday. “Political choice was reduced by the lack of distinct political alternatives, with all contesting parties supporting the incumbent President’s policies.”
Kazakhstan’s Supreme Court ruled last month that the country’s new constitution, adopted earlier this year, allows Tokayev to run for a second seven-year term. Tokayev has previously said that he is uncertain if he will seek office again; however, Adilet’s success in Sunday’s parliamentary election hints that the president could be cementing his authority ahead of another run. Adilet was announced in April by Tokayev’s top aides.
Scrapping Twin Dragons. Seoul confirmed on Monday that the U.S. military has canceled an amphibious landing drill with South Korea. The announcement marks the two countries’ second joint exercise downsized in recent months, and it raises fears that Washington favors North Korea’s authoritarian regime over the government of a historic U.S. ally.
Scheduled for next month, the biennial Ssangyong (or Twin Dragons) drill would have involved more than 10,000 service members from both countries supported by warships, aircraft, and amphibious vehicles. However, Washington reportedly told Seoul in June that the massive, high-profile exercise must be called off due to constrained force availability driven by the Iran war; the Middle East conflict has significantly depleted U.S. munition stockpiles and other critical military resources.
Monday’s announcement follows the United States’ decision to scale back last week’s Ulchi Freedom Shield drills with South Korea. The White House issued that order out of respect for Trump’s “very good relationship” with North Korean leader Kim Jong Un, whom the U.S. president claimed has been “unthreatening and respectful” since he took office. Yet Pyongyang appeared to be unappeased, with North Korea still firing more than 10 short-range ballistic missiles into the sea to the east of the Korean Peninsula just days after the U.S. announcement.
Cease-fire monitors. A monitoring mission deployed to the Democratic Republic of the Congo on Monday to oversee a fragile cease-fire between Congolese forces and M23 rebels. The mission—the first of its kind—aims to verify potential violations of a truce deal signed in Qatar in 2025. Participants include observers from member countries of the International Conference on the Great Lakes Region as well as members both of Congo’s government and M23.
Over the weekend, Kinshasa and M23 representatives agreed on a new road map for peace negotiations, reigniting hopes of progress after months of stalled talks. “The parties agreed to establish a mechanism tasked with reviewing progress and addressing challenges in implementation of obligations and commitments under the Doha Framework Agreement,” the two parties said in a joint statement, referring to the 2025 deal.
However, disagreement remains over the timing of political reforms, sanctions on M23 fighters, and the release of detainees. Meanwhile, experts fear that Monday’s mission will not be enough to stop the cycle of violence that has repeatedly erupted despite several cease-fire commitments.
Odds and Ends
Those anxiously anticipating Fat Bear Week, which begins on Sept. 22, can now pass the time by tuning into another chunky animal contest. Fat Marmot Week kicked off in Colorado on Monday for its inaugural vote. The competition aims to raise money for researchers who have recently lost aid due to federal funding cuts. Scientists need to earn more than $200,000 to ensure that research efforts continue into next summer; already, around half that amount has been raised from sales of a meme coin created in response to marmot videos posted on OnlyFans, an adult content platform.
All of this year’s participants are worthy champions. But FP’s World Brief writer has a few personal favorites: Open Kite, whose commitment to self-care is admirable; Dawn, who loves a rocky snack; and Stonehenge, a girlboss with lots of opinions and little patience. Vote here!
