US Treasury Secretary Scott Bessent has announced that the European Union has officially joined the economic pressure campaign led by Washington against Iran, saying the United States will continue working with its allies to restrict the financial channels used by Tehran.
Bessent said Washington welcomed the European Union’s position, describing its early participation as a strong step in increasing pressure on Iran.
Washington Targets Funding for Nuclear and Military Programs
The US Treasury secretary said Washington and its allies are seeking to prevent the Iranian government from using the global financial system to fund its nuclear and military programs.
Bessent stressed that the United States would continue its efforts until what he described as “every remaining financial lifeline” available to Iran is cut off, as part of a broader strategy aimed at intensifying economic pressure on Tehran.
“Economic Outcast” Campaign Expands Sanctions
The US Treasury Department launched the “Economic Outcast” operation on August 24, targeting the financial and commercial channels on which Iran relies, while tightening sanctions against entities accused of helping Tehran circumvent existing restrictions or secure new sources of revenue.
The campaign includes an expansion of secondary sanctions, potentially putting companies and other entities that continue doing business with Iran at risk of losing access to the US financial system.
Washington’s strategy is designed to increase the economic cost of dealing with Tehran and further limit Iran’s access to international financial resources.
