4 September 2026 Punjab Khabarnama Bureau : US Treasury Secretary Scott Bessent has said the European Union has officially joined the US-led “Operation Economic Outcast”, a campaign aimed at increasing economic pressure on Iran and cutting off financial channels that Washington says support Tehran’s nuclear and weapons programmes.
Bessent welcomed what he called the EU’s “strong and early stance” as the West Asia conflict continues and Washington seeks greater international backing for its economic campaign against Iran.
Bessent Welcomes EU Support
Bessent announced the development in a post on X, saying the European Union had “officially joined” Operation Economic Outcast.
He said the US appreciated the bloc’s decision and argued that Washington and its allies must prevent Iran from using the global financial system to fund its nuclear ambitions, weapons programmes and what he described as terror proxies.
What Is Operation Economic Outcast?
Operation Economic Outcast is the Trump administration’s intensified campaign to economically isolate Iran.
The initiative was launched by the US Treasury in August and is designed to restrict Iran’s access to international financial networks and close channels through which Tehran can generate or move revenue.
Bessent has described the campaign as an effort to sever Iran’s remaining financial lifelines and increase pressure on the Iranian government.
EU Backs Additional Economic Pressure
The EU’s position indicates support for additional economic measures against Iran, including measures connected with Operation Economic Outcast.
At the same time, Brussels has stressed that economic pressure should be accompanied by diplomatic efforts and de-escalation. The bloc said continued diplomacy was necessary to reach a settlement and restore regional stability.
Iran’s Nuclear Programme in Focus
The US says the economic campaign is intended partly to prevent Iran from financing its nuclear and military programmes.
Washington has repeatedly insisted that Iran must not obtain a nuclear weapon and has combined sanctions with military pressure during the ongoing confrontation.
The EU has similarly called on Tehran to curb its nuclear and ballistic-missile programmes.
Pressure Also Targets Iran’s Regional Activities
The campaign is broader than Iran’s nuclear programme.
According to Bessent, the US wants to prevent Tehran from using international financial networks to support its weapons programmes and regional proxy groups.
The EU has also criticised what it describes as Iran’s destabilising activities in the region and Europe.
Strait of Hormuz Remains a Key Concern
The economic pressure campaign is also closely connected to the Strait of Hormuz, a crucial global energy and shipping route.
The EU has said it supports efforts to ensure freedom of navigation and safe transit through the waterway, while calling for diplomacy to help reduce tensions.
US Threatens More Secondary Sanctions
Bessent had already announced plans for regular secondary sanctions targeting financial institutions and other entities that maintain economic links with Iran.
He has warned that banks facilitating Iranian financial activity could face restrictions, potentially including exclusion from the dollar-based financial system.
The administration has also indicated that airlines, maritime companies and digital-asset businesses could become future targets.
EU-US Alignment Deepens
The EU’s support represents a significant alignment between Washington and its European allies over economic pressure on Tehran.
However, the bloc’s emphasis on diplomacy suggests that its approach is not limited to sanctions. Brussels is simultaneously calling for de-escalation, negotiations and restoration of regional stability.