The EU Is Joining Washington’s Economic Pressure Campaign Agasint Iran. South Korea Could Play a Military Role.

U.S. Treasury Secretary Scott Bessent praised the European Union for joining the campaign to increase economic pressure on Iran, praising Brussels’ “strong and early stance.”

In a social media publication, Bessent claimed that Washington “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.”

“The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed,” Bessent added.

He went on to cite a document where Brussels addressed Iran in the context of the G20 summit that took place this week in North Carolina.

Brussels doesn’t announce formal measures there, but expresses support for those implemented by the U.S. It claims that the “EU has adopted extensive sanctions to prevent Iran from exploiting the global economy and financial system to sustain its hostile actions and undermine international security” and “remains ready to take further measures, where necessary, to safeguard its security and interests, including freedom of navigation through the Strait of Hormuz.”

“The EU welcomes efforts at ensuring that Iran ceases its destabilising activities and engages in peace negotiations with good faith, also through additional economic pressure, including through the US led Operation Economic Outcast,” the statement adds.

Bessent said this week that the U.S. will further escalate economic pressure against Iran. Speaking to The Associated Press, Bessent said the Trump administration plans to sanction another bank with ties to Tehran.

“This is going to be financial violence if we have to,” he said. “We are showing people that we know who you are, you know who you are, and this has got to stop.”

Bessent unveiled the plan last week, noting that the U.S. would be imposing secondary sanctions on those “enabling” Iran to maintain its economic activity.

Elsewhere, Reuters reported that South Korea is considering lending military support to the U.S.’s efforts to guarantee the flow of energy through the Strait of Hormuz. Seoul denied reports that a decision had already been made, noting in a statement that “details related to the issue have yet to be decided.”