The European Union has formally joined the United States’ “Operation Economic Outcast,” a campaign aimed at intensifying economic and financial pressure on Iran, US Treasury Secretary Scott Bessent said on Thursday.
Bessent welcomed what he described as the EU’s “strong and early stance” in the initiative, saying Washington would continue working with its allies to prevent the Iranian government from exploiting the global financial system.
In a post on X on September 3, Bessent said the United States and its allies were determined to prevent what he called the “murderous Iranian regime” from using international financial channels to fund its nuclear ambitions, weapons programmes and support for militant groups.
He added that the pressure campaign would continue until the remaining avenues of financial support for the Iranian government were shut down.
The EU had already indicated late last month that it would work closely with the United States, the Group of Seven (G7) and other international partners to maintain pressure on Iran while contributing to de-escalation and regional stability.
The EU’s participation marks a further alignment between Washington and Brussels over economic measures targeting Tehran, amid heightened tensions surrounding Iran’s nuclear programme, regional security and its relations with the United States and Israel.
The move could further increase pressure on Iran’s already strained economy by restricting access to international financial networks and limiting channels through which Tehran can conduct overseas transactions.
The Iranian government has repeatedly opposed Western sanctions, arguing that such measures amount to economic coercion and harm the Iranian population. Tehran has also defended its right to pursue peaceful nuclear activities while rejecting allegations that its nuclear programme is intended to produce nuclear weapons.
The latest US-EU coordination comes as international concerns remain high over the broader Iran-Israel confrontation and the potential impact of regional tensions on energy markets and global trade.
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