Bessent Announces EU 'Officially Joined' Operation Economic Outcast Against Iran

US Treasury Secretary Scott Bessent announced on X Friday that the EU has "officially joined" Operation Economic Outcast, the sweeping US sanctions campaign to cut Iran out of the international banking system and completely isolate it from the global economy.

"The European Union has officially joined Operation Economic Outcast and we appreciate their strong and early stance," Bessent wrote; however, the European Commission seemed to actually reveal no change in the bloc's measures.

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

"The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed," he added.

The EU statement cited by Bessent was published a few days ago when G20 finance ministers and central bank governors opened meetings in Asheville, North Carolina - coming off his prior 'Economic D-Day' announcement against Iran.

The statement in question seems to stop short of Brussels' real and full commitment, but is a mere endorsement. The bloc lays out that it "welcomes efforts at ensuring that Iran ceases its destabilizing activities and engages in peace negotiations with good faith, also through additional economic pressure, including through the US-led Operation Economic Outcast."

It seems to also back Europe's existing measures, as it further states the EU "remains ready to take further measures, where necessary," and pledges to "continue to work closely with the United States and other G7 and international partners to maintain pressure on Iran."

But from there the statement diverges from Bessent, saying the bloc "believes continued diplomatic efforts are necessary to reach a peace settlement, restore regional stability and ensure full freedom of navigation and safe transit through the Strait of Hormuz."

Al Jazeera is among those outlets expressing skepticism at Bessent's claim:

On Thursday evening, Bessent thanked the EU for joining the economic campaign, saying that the world was “sending a clear message to Iran”.

However, the statement from the EU doesn’t clearly say that, but does state that the bloc remains “ready to take further measures, where necessary, to safeguard its security and interests”.

The White House has been signaling that it at this point has little hope of revived direct talks between Tehran and Washington, and nothing much on the negotiating from has been reported for several days, especially after this week's flare-up in fighting.

Officials continue to underscore that sanctions and the blockade are really beginning to 'bite' - in a familiar refrain and talking point that was already being echoed for months. But new reporting claims Iranian officials themselves are increasingly conceding this. According to Reuters:

A U.S. campaign to throttle Iran's economy by blockading its oil exports and stopping sanctions evasion is growing increasingly difficult to withstand, three senior Iranian sources said. Washington has in recent weeks ​sought to ratchet up the economic pressure on Tehran, in an effort to extract concessions in any future negotiation that six months of conflict have so far failed to secure

It should be noted that many of the mainstream media's predictions based on the usual "anonymous sources say..." - especially forecasts that include timelines - have fallen completely flat time and again throughout the war:

Meanwhile, the country's financial squeeze is itself biting into Tehran's efforts to get around the sanctions regime, leaving less cash to pay the high premiums required to skirt sanctions illicitly, the sources said.

The rial has fallen to record lows over recent days and one senior source said Iran only has another two months' supply of gasoline, which has to be imported despite domestic oil production because of limited refining capacity.

Also, Vance says don't call it a "war"...

Q: When will this war be over?

Vance: Well, I don't.... I wouldn't call it a war. pic.twitter.com/75xffTPJPk

— Headquarters (@HQNewsNow) September 3, 2026

But leadership in Tehran has been touting that it is ready to face down and endure a long war on all fronts. The Associated Press recently reported, "After six months of war, Iran’s leadership has coalesced around a hard core of military generals and clerics long entrenched in the ruling theocracy. They are ready for a potentially long confrontation with the U.S. and determined to prevent any unrest at home."

Meanwhile, Tehran is publicly sparring with Jordan, in the wake of the latest Iranian ballistic missile launches on key US bases in the Arab country. Jordanian Foreign Minister Ayman Safadi had accused Iran of acting with 'pre-meditation' - batting down its assertion of necessary 'retaliation' against US assets.

Iranian Foreign Minister Abbas Araghchi then blasted Safadi and the Jordanian government, writing on X, according to a translation: "How much time does the Jordanian Foreign Minister believe Iran should wait before responding to an aggressor that respects neither Arab sovereignty nor Iranian sovereignty? And is he truly unaware that Arab airspace, lands, and waters were used in the initial American attacks that resulted in the killing of innocent Iranians?"