US reviews sanctions on airlines, lessors over Iran

US Treasury Secretary Scott Bessent said on September 2, 2026, that airlines could become targets of sanctions. He made the remark in a Fox News interview, listing airlines alongside the maritime industry and digital assets.

Speaking a day earlier at a G20 sidelines event in Asheville, North Carolina, Bessent said potential targets could include airline leasing companies and anyone doing business with the Islamic Revolutionary Guard Corps (IRGC). No specific carrier or lessor has yet been identified.

Legal Authority Already Established

The legal framework for these actions is already active. On August 24, 2026, the Treasury's Office of Foreign Assets Control (OFAC) issued five sectoral determinations under Executive Order 13902 as part of Operation Economic Outcast.

These determinations cover Iran's digital assets, technology, gold, aviation, and shipping sectors. They allow OFAC to sanction any person operating in those sectors, regardless of location.

In its campaign announcement, Treasury stated Iran uses commercial airlines to move fighters, weapons, sensitive technology, gold, and cash to its proxies. It described many of these airlines as controlled by the regime and the IRGC.

Broad Exposure for Aviation Sector

The aviation determination significantly broadens the scope of potential sanctions. It extends exposure to foreign entities outside Iran that support the industry.

This includes foreign brokers, parts suppliers, maintenance providers, insurers, and sales agents. Bessent indicated the Treasury was likely to announce sanctions against a bank during that week, according to the source report from AeroTime.

Implications and Strategy

The remarks signal a widening of US economic pressure. The focus on leasing companies highlights a key channel through which Iran might access aircraft and related services.

Bessent's comments were made in two public forums. He provided no specific timeline for actions against airlines or lessors beyond the imminent bank sanctions.

The sectoral determinations provide the underlying authority. They represent a tool for targeting Iran's economic activities across several key industries.

This development places global aviation businesses on notice. Those with any dealings connected to Iran's aviation sector now face potential US sanctions risk.

Treasury's public statements aim to deter engagement. The strategy forms part of the broader Operation Economic Outcast campaign against Iran.