EU joins US economic pressure campaign against Iran

• The European Union has officially joined the US-led "Operation Economic Outcast" economic pressure campaign against Iran.
• US Treasury Secretary Scott Bessent announced the EU's participation, thanking them for their "strong and early stance."
• The campaign's objective is to sever all of Iran's economic lifelines to prevent funding for its nuclear ambitions and weapons programs.
• New sanctions target Iran's digital assets, technology, gold, aviation, and shipping.
• The US has sanctioned 60 entities, vessels, and individuals globally for enabling Iran's financial activities.

The European Union has officially joined the United States' economic pressure campaign against Iran, known as "Operation Economic Outcast." US Treasury Secretary Scott Bessent announced the EU's participation, expressing gratitude for their "strong and early stance." The initiative aims to cut off all financial lifelines supporting the Iranian regime's nuclear ambitions, weapons programs, and support for terror proxies.

Bessent stated that the global community is sending a clear message to Iran, vowing to continue until every financial lifeline is severed. The US campaign seeks to prevent other countries and companies from doing business with Tehran, targeting all sources of revenue, including oil. This effort exposes Iran's trade partners to secondary penalties, with Bessent emphasizing that "no one is above the reach of US sanctions."

The new sanctions specifically target five of Iran's vital lifelines: digital assets, technology, gold, aviation, and shipping. In conjunction with the EU's joining the operation, the US Treasury has also imposed fresh sanctions on 60 entities, vessels, and individuals across various countries, including the UAE, Hong Kong, China, Singapore, and Switzerland, for allegedly enabling the Iranian regime's activities. This intensified pressure comes amid ongoing conflict and failed diplomatic efforts to resolve the crisis, including disruptions to the Strait of Hormuz.