Bessent says EU joined U.S. sanctions campaign against Iran

Treasury Secretary Scott Bessent said Thursday that the European Union has formally joined the U.S.-led sanctions campaign against Iran, calling it a signal that the world will “not stop until every remaining financial lifeline has been severed.” Maintain pressure on Iran Bessent said the European Union has officially joined “ Operation Economic Outcast,” thanking the bloc for its “strong and early stance.” He said the U.S. and its allies remain united in preventing Iran’s “murderous” regime from exploiting the global financial system to fund its nuclear program, weapons, and terror proxies. “The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed,” the Treasury Secretary added.

The European Union has officially joined Operation Economic Outcast and we appreciate their strong and early stance.

The United States stands firm with our allies in ensuring the murderous Iranian regime cannot exploit the global financial system to fund its nuclear ambitions,… — Treasury Secretary Scott Bessent (@SecScottBessent) September 3, 2026 On Monday, the EU said in a statement that it welcomes efforts to ensure that Iran ceases its destabilizing activities and would continue working with the U.S. and other G7 partners “to maintain pressure on Iran and contribute to de-escalation and regional stability.” The bloc said it remains ready to take further measures “where necessary,” including to protect freedom of navigation through the Strait of Hormuz.

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1 in retaliation for earlier Iranian attacks on U.S. assets in the Gulf, and on Thursday, Iran responded with missile and drone attacks on Kuwait, a day after President Donald Trump said renewed hostilities in the Middle East would not last “too long.” Bessent told reporters at the G20 finance ministers’ meeting on Monday that Iran’s economy could unravel “within weeks or months,” though he said the goal is to force the regime “to come to its senses.” The Wall Street Journal reported on Wednesday that Trump is privately considering declaring the Iran war over, believing continued economic pressure alone could force Tehran to dismantle its nuclear program or collapse the regime.

China’s Role Faces Fresh Scrutiny Last month, Bessent said “no one is above the reach of U.S. sanctions” when asked whether Chinese institutions could face penalties, adding that “all options are on the table” regarding sanctions tied to China’s Iranian oil purchases.

China accounted for more than 80% of Iran’s shipped oil in 2025, according to Kpler data, making it central to Tehran’s remaining export revenue.

China’s President Xi Jinping is set to visit the U.S. on Sept.

24.

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Image via Shutterstock/ Maxim Elramsisy