US Claims EU Joined New Iran Sanctions Campaign, Brussels Only Endorsed Initiative

WASHINGTON, September 4: US Treasury Secretary Scott Bessent has claimed that the European Union has formally joined the US economic pressure campaign against Iran, dubbed “Operation Economic Outcast,” although the EU’s own statement indicates that Brussels has endorsed the US initiative but has not announced any formal participation in the campaign.

According to Euronews, Bessent said on Friday that the European Union had formally joined the US effort to isolate Iran from the global financial system and welcomed the bloc’s initial position.

However, an EU statement issued on August 31 on the sidelines of a meeting of G20 finance ministers and central bank governors expressed support for the US action but did not announce any new EU sanctions, formal alignment with US sanctions, or participation in “Operation Economic Outcast.”

The European Union said it remained concerned about Iran’s nuclear and ballistic missile activities, actions contributing to regional instability, its military support for Russia and alleged repression of the Iranian people. Brussels also said it was prepared to take necessary measures, including further economic pressure on Iran, while continuing close coordination with the United States and other G7 partners.

At the same time, the EU stressed the importance of maintaining diplomatic efforts to resolve the Iran issue and reduce tensions, a position that differs in emphasis from Washington’s policy of intensifying economic pressure on Tehran.

The US “Operation Economic Outcast” seeks to restrict Iran’s access to digital assets, advanced technology, gold, commercial aviation and maritime sectors. US sanctions could also target foreign companies and financial institutions that continue doing business with Iran.

According to the report, the US Treasury Department has already placed around 60 companies, individuals and vessels on its sanctions list in the initial phase of the campaign.

Euronews reported that if the European Union formally joins the US campaign, European companies could face further restrictions on trade with Iran. However, Brussels has so far made no such formal decision. Major EU foreign policy and sanctions decisions generally require the unanimous approval of the bloc’s member states.