US Treasury Secretary Scott Bessent on Thursday said the European Union has “officially joined” the US-led “Operation Economic Outcast” against Iran, as Washington and its allies seek to intensify economic pressure on Tehran amid the ongoing West Asia conflict.
“The European Union has officially joined Operation Economic Outcast and we appreciate their strong and early stance,” Bessent said in a post on X.
He said the United States would continue working with its allies to prevent Iran from using the global financial system to fund its nuclear programme, weapons development and what Washington described as terror proxies.
“The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed,” Bessent said.
The remarks came after the EU said it was prepared to support additional economic measures against Iran, including through the US-led operation, while stressing the need for continued diplomacy and de-escalation.
The EU said it had consistently called on Iran to curb its nuclear and ballistic missile programmes, end destabilising activities in the region and Europe, halt military support for Russia’s war in Ukraine, and stop violence and repression against its own people.
The bloc also stressed the importance of diplomatic efforts to achieve a peace settlement, restore regional stability and ensure “full freedom of navigation and safe transit through the Strait of Hormuz”.
The EU said it had already imposed extensive sanctions aimed at preventing Iran from exploiting the global economy and financial system to support activities it considers hostile and detrimental to international security.
“It remains ready to take further measures, where necessary, to safeguard its security and interests, including freedom of navigation through the Strait of Hormuz,” the bloc said.
The EU added that additional economic pressure through “Operation Economic Outcast” could form part of efforts to ensure Iran ends its destabilising activities and enters peace negotiations “with good faith”.
“The EU will continue to work closely with the United States and other G7 and international partners to maintain pressure on Iran and contribute to de-escalation and regional stability,” it said.
Bessent announced the launch of “Operation Economic Outcast” last month, describing it as a campaign aimed at cutting Iran off from international financial networks and restricting revenue streams that Washington alleges support the Iranian government.
The US Treasury has identified networks allegedly used by Iran to move oil and circumvent sanctions, while expanding categories of Iran-related activities that could face US sanctions, including those involving digital assets, technology and shipping.
Bessent had earlier said Iran faced a choice between “complete global isolation and a subsistence economy” and a path towards normalisation and reintegration into the global economy.
