2 hrs ago
EU Joins US-Led Economic Pressure Campaign Against Iran
The United States is leading a campaign called Operation Economic Outcast against Iran.
The campaign is meant to make it harder for Iran to use international banks and earn money.
Treasury Secretary Scott Bessent said the European Union had officially joined the campaign.
The EU said it was ready to support more economic pressure on Iran.
However, the EU also said countries should keep working toward diplomacy and peace.
The EU is concerned about Iran’s nuclear and missile programs and other activities it considers destabilizing.
It also wants ships to travel safely through the Strait of Hormuz.
The United States and the EU say they want to pressure Iran while reducing the chance of a wider conflict.
US Treasury Secretary Scott Bessent said the European Union had officially joined Operation Economic Outcast against Iran.
The EU said it was ready to support further economic pressure while emphasizing diplomacy and de-escalation.
The bloc cited Iran’s nuclear and ballistic missile programs, regional activities, and support for Russia’s war in Ukraine.
The EU called for peace negotiations, regional stability, and safe navigation through the Strait of Hormuz.
Bessent said the US campaign targets Iran’s financial networks and revenue linked to oil, digital assets, technology, and shipping.
- Who
- The United States, the European Union, Iran, and US Treasury Secretary Scott Bessent.
- What
- The EU said it was prepared to support additional economic pressure on Iran through the US-led Operation Economic Outcast.
- Where
- The measures concern Iran, international financial networks, and navigation through the Strait of Hormuz.
- When
- Thursday, September 3; the year was not specified.
- Why
- The US and EU cited Iran’s nuclear and ballistic missile programs, regional activities, support for Russia’s war in Ukraine, domestic repression, and regional security concerns.
Economic Pressure
Diplomacy and De-escalation
How to influence Iran
Economic Pressure
The United States and the EU support maintaining or expanding economic pressure to restrict Iran’s financial resources and address its nuclear, military, and regional activities.
Diplomacy and De-escalation
The EU says continued diplomatic efforts and good-faith peace negotiations are necessary alongside any economic measures.
Meaning of EU participation
Economic Pressure
Bessent described the EU’s readiness to support additional pressure as an official joining of Operation Economic Outcast.
Diplomacy and De-escalation
The EU statement described a willingness to consider additional pressure but also stressed existing sanctions, diplomacy, de-escalation, and regional stability.
Key facts
- Campaign
- Operation Economic Outcast is a US-led effort to restrict Iran’s access to international financial networks and revenue streams.
- US position
- Scott Bessent said the campaign would continue until Iran’s remaining financial lifelines were severed.
- EU position
- The European Union said it was ready to take further measures where necessary, including possible additional economic pressure.
- Existing sanctions
- The EU said it had already adopted extensive sanctions targeting Iran’s use of the global economy and financial system.
- Stated concerns
- The EU cited Iran’s nuclear and ballistic missile programs, destabilizing activities, support for Russia’s war in Ukraine, and violence and repression against its people.
- Strait of Hormuz
- The EU called for full freedom of navigation and safe transit through the Strait of Hormuz.
- US targets
- Bessent said the US had identified oil-moving and sanctions-circumvention networks and expanded potentially sanctionable categories involving digital assets, technology, and shipping.
Quotes
Scott Bessent
US Treasury Secretary
“The United States stands firm with our allies in ensuring the murderous Iranian regime cannot exploit the global financial system to fund its nuclear ambitions, weapons programs, and terror proxies.”
wionews.com
“The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed.”
republicworld.com
European Union
Regional political and economic bloc
“The European Union has consistently urged Iran to curb its nuclear programme, and its ballistic missile programme, refrain from destabilising activities in the region and in Europe, stop its military support for Russia's war of aggression against Ukraine and cease the violence and repression against its own people.”
wionews.com
“It remains ready to take further measures, where necessary, to safeguard its security and interests, including freedom of navigation through the Strait of Hormuz.”
republicworld.com
freepressjournal.in
Sources
EU officially joins US-led 'Operation Economic Outcast' against Iran, says Treasury Secretary Scott Bessent
Treasury Secy Bessent Says EU 'Officially' Joins US-Led 'Operation Economic Outcast' Against Iran
US-Iran Tensions Escalate As EU Joins 'Operation Economic Outcast', Backs Tougher Sanctions And Economic Pressure On Tehran
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