The European Union has formally endorsed the U.S.-led sanctions campaign against Iran known as “Operation Economic Outcast,” while South Korea said it is weighing a potential military contribution to efforts aimed at reopening the Strait of Hormuz. The moves come as Washington intensifies pressure on allies to support both financial and military measures against Tehran.

U.S. Treasury Secretary Scott Bessent welcomed the EU’s decision in a social media post Thursday evening. “We appreciate their strong and early stance,” Bessent wrote. “The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed.”

Brussels issued a statement on Aug. 31 expressing support for efforts to halt what it described as Tehran’s “destabilizing activities” and to resume peace talks. The statement specifically backed the use of additional economic pressure through Operation Economic Outcast.

The EU’s endorsement coincided with a meeting of G20 finance ministers and central bank governors in Asheville, North Carolina, earlier this week.

“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, weapons programs, and terror proxies.” Scott Bessent, U.S. Treasury Secretary

The Trump administration launched Operation Economic Outcast in late August. The campaign targets Iran’s access to digital assets, advanced technology procurement, gold reserves, commercial aviation, and shipping in an effort to isolate Tehran from the global financial system.

South Korea Weighs a Role in the Strait of Hormuz

South Korea, meanwhile, has indicated it is considering a military role to help secure or reopen the strategically vital Strait of Hormuz, a critical chokepoint for global oil shipments.