U.S. and EU Tighten Economic Pressure on Iran

U.S. Treasury Secretary Scott Bessent welcomed the European Union’s decision to formally support “Operation Economic Outcast,” a U.S.-led sanctions campaign designed to restrict Iran’s access to the global financial system. The move broadens pressure on Tehran beyond the military front and increasingly targets its economic and financial channels.

Bessent said the EU’s early support showed growing international alignment against Iran. According to him, Washington and its allies remain committed to cutting off the financial networks Tehran may still use to support its nuclear program, weapons development, and allied groups across the region.

The European Union had earlier backed efforts aimed at curbing what it described as Iran’s destabilizing activities while also encouraging a return to peace negotiations. Brussels also endorsed Operation Economic Outcast as a way to intensify economic pressure on the Iranian government.

The move came as G20 finance ministers and central bank governors gathered in Asheville, North Carolina. U.S. officials see closer coordination with international partners as essential to limiting Iran’s access to global funding and financial infrastructure while the regional conflict continues.

The Trump administration launched Operation Economic Outcast in late August. The campaign targets several strategic areas of Iran’s economy, including access to digital assets, advanced technology procurement, gold reserves, commercial aviation, and shipping.

Iran strongly criticized the EU’s decision. Foreign Ministry spokesperson Esmail Baghaei described the move as support for Washington’s “economic terrorism” and accused the bloc of surrendering its sovereignty and policy independence to U.S. pressure.

Stronger coordination between the United States and the European Union could further restrict Iran’s access to financing, trade, and international payment systems. Markets are also watching for broader geopolitical consequences, particularly if the new economic pressure triggers a stronger response from Tehran.(mrv)

Source : Newsmaker.id