Washington(The COW News Digital) US Treasury Secretary Scott Bessent has announced that the European Union has formally joined Washington’s economic pressure campaign against Iran, increasing the financial strain on Tehran amid continuing tensions.
Bessent said the campaign, referred to as “Operation Economic Outcast,” is aimed at restricting Iran’s access to the international financial system. According to the US Treasury chief, Washington and its allies want to prevent Tehran from using global financial networks to support its nuclear programme, weapons development and affiliated groups.
In a statement shared on social media platform X, Bessent said the United States would continue working with its allies to increase financial pressure on Iran. He maintained that the campaign would remain in place until what Washington considers Iran’s remaining sources of financial support are eliminated.
The reported involvement of the European Union marks a significant development in the economic pressure campaign. Greater coordination between Washington and European governments could increase restrictions on Iranian financial activities and make it more difficult for Tehran to access international markets and financial channels.
The move comes at a time of heightened tensions between Iran and the United States, with disagreements extending across military, nuclear and regional security issues. Economic sanctions have remained one of Washington’s key tools for putting pressure on Tehran.
US officials have repeatedly argued that financial restrictions are necessary to limit Iran’s ability to fund activities that Washington considers a threat to regional and international security. Tehran, however, has consistently criticized such measures and described American pressure as an attack on Iran’s economic sovereignty.
The reported European participation could further complicate Iran’s economic situation if additional restrictions are introduced against Iranian entities, financial networks or sources of revenue.
Analysts are expected to closely monitor how the European Union implements its participation and whether the new measures affect Iran’s access to international banking and trade.
The development could also have wider consequences for European-Iranian relations and efforts to address longstanding disputes over Iran’s nuclear programme.
For now, Washington has made clear that it intends to maintain economic pressure on Tehran, while the reported participation of European allies signals a broader international effort to restrict Iran’s financial activities.
