U.S. Treasury Secretary Scott Bessent announced that the European Union has joined “Operation Economic Isolation” in support of Washington’s campaign to escalate economic pressure on the Islamic Republic, aimed at cutting Tehran off from financial resources and the international banking network.
Writing on the social media platform X on Thursday, Bessent stated: “The European Union has officially joined Operation Economic Isolation,” expressing appreciation for what he termed Europe’s “firm and prompt stance.”
He added that the United States stands alongside its allies to ensure that the Islamic Republic cannot leverage the global financial system to fund its nuclear program, weapons initiatives, and regional proxies. Bessent stressed that pressure will persist until the Islamic Republic’s “very last financial lifeline” is severed.
Bessent’s remarks followed a statement released by the European Commission on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Asheville, North Carolina. In its statement, the European Commission expressed support for efforts to halt the Islamic Republic’s “destabilizing” activities and encourage its return to peace negotiations, adding that this pressure could be pursued through further economic measures, including the U.S.-led “Operation Economic Isolation.”
The U.S. Treasury Secretary previously warned that countries and corporate entities continuing economic engagement with the Islamic Republic could face secondary sanctions enforcement from Washington. This strategy specifically targets Tehran-linked banking networks, oil revenues, shipping logistics, and financial transactions, seeking to raise the financial risks for foreign partners conducting business with the regime.