US Treasury Secretary Scott Bessent praised the EU for taking the initiative and said on Friday that the bloc has “officially joined” Operation Economic Outcast, the aptly named American sanctions drive to bar Iran from the global banking system.
Bessent cites a statement from the European Commission that was released on Monday, although it does not formally endorse the US effort. The US Treasury Secretary responded, “We appreciate their strong and early stance,” portraying the event as evidence of growing international pressure on Iran.
Washington “will not stop until every remaining financial lifeline has been severed,” Bessent continued, adding that the world was “sending a clear message to the Iranian regime” and that the US “stands firm with our allies in ensuring the murderous Iranian regime cannot exploit the global financial system.”The US Treasury Secretary referenced a document that was released on August 31, the first day of the G20 finance ministers’ and central bank governors’ conference in Asheville, North Carolina.
This year, the US is the group’s chair, and Bessent and Federal Reserve Chair Kevin Warsh organised the event to put pressure on other countries to sever financial connections with Tehran or face secondary penalties of their own.
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