US Secretary of the Treasury Scott Bessent said on Thursday that the European Union has ‘officially joined’ the US-led ‘Operation Economic Outcast’ against Iran
US Secretary of the Treasury Scott Bessent said on Thursday that the European Union has “officially joined” the US-led “Operation Economic Outcast” against Iran. In his post on X, formerly known as Twitter, Bessent welcomed the move, describing it as the bloc’s strong and early stance in maintaining economic pressure on Iran.
“The European Union has officially joined Operation Economic Outcast, and we appreciate their strong and early stance,” Bessent said in a statement on X. “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. The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed,” he added.
The American treasury secretary’s remarks on the matter came right after the European Union said that it was prepared to support additional economic pressure on Iran. This included joining the US-led operations, while stressing the need for continued diplomatic efforts and de-escalation.
“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,” the EU said in a statement, which was also shared by Bessent in a Thursday tweet.
More from WorldEU pushes for diplomacy
The regional bloc maintained that it believes that continued diplomatic efforts are necessary to reach a peace settlement and restore regional stability along with “full freedom of navigation and safe transit through the Strait of Hormuz”.
The EU noted that it had already adopted extensive sanctions aimed at preventing Iran from exploiting the global economy and financial system to sustain what it described as hostile actions and undermine 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 EU said. The bloc also welcomed efforts that are aimed at ensuring that Iran ceases its destabilising activities and engages in peace negotiations “in good faith”, adding that this could include additional economic pressure through Operation Economic Outcast.
“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 in the statement.
About Operation Economic Outcast
It is pertinent to note that Bessent announced the launch of “Operation Economic Outcast” last month, calling it a campaign aimed at cutting Iran off from international financial networks and restricting the revenue streams of the West Asian nation. Washington has maintained that the initiative would prevent the Iranian government from prolonging the war.
“The US Department of the Treasury has launched Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its neighbours,” Bessent said at the time. “Our goal is to sever every economic lifeline that sustains this tyrannical regime,” he said. According to Bessent, the US had identified networks used by Iran to move oil and circumvent sanctions. The Treasury Department also expanded categories of Iran-related conduct that could potentially face US sanctions, including activities involving digital assets, technology and shipping,” he added.
The Trump official noted that Tehran now has two choices: either complete global isolation and a subsistence economy, or a path to normalcy with the opportunity to rejoin the global economy. The EU’s latest statement reflected the bloc’s intention to work alongside Washington and other G-7 and international partners to maintain economic pressure on Tehran. Simultaneously, the bloc has been calling for diplomacy, regional de-escalation and safe navigation through the Strait of Hormuz.