$2.4 trillion: US Treasury claims EU joined Operation Economic Outcast, Brussels only endorsed it
US Secretary of the Treasury Scott Bessent announced the European Commission supported sanctions against Iran's financial system during a G20 gathering in North Carolina, though Brussels formally rejected joining the initiative.
Scott Bessent stated on Friday that the EU had officially joined Operation Economic Outcast, the American campaign designed to remove Iran from international banking. During an announcement in Washington, Bessent praised European support for the effort to isolate Tehran's financial networks. He noted the US stands firm with allies to prevent the Iranian regime from exploiting global finance.
The reference came from a European Commission document published on August 31 during the G20 meeting of finance ministers in Asheville, North Carolina. The United States chaired this gathering with Federal Reserve Chair Kevin Warsh present.
The EU statement did not commit to Operation Economic Outcast. It welcomed the American position and expressed appreciation for its strong stance. The Commission listed ongoing complaints against Iran rather than endorsing the specific US operational framework.
Bessent characterized the world as sending a clear message, asserting Washington would continue cutting financial lifelines until every remaining link was severed.
