Operation Economic Outcast Directed At China, Major Escalation Likely

The piece describes “Operation Economic Outcast” as a sanctions-driven effort to economically isolate Iran—aiming to pressure Iran to reopen the Strait of Hormuz and abandon its nuclear program. It also notes secondary sanctions are targeted at China, but compliance risk is elevated because China could leverage its control of rare earth materials. Net: heightened geopolitical and sanctions uncertainty with potential market-wide risk-off implications.