The European Union on Friday joined the US-led economic pressure campaign against Iran while South Korea was weighing possible military options to help protect shipping through the Strait of Hormuz as the conflict continued to disrupt the strategic waterway, CNBC reported.
American Treasury Secretary Scott Bessent lauded the EU’s support for “Operation Economic Outcast,” a campaign designed to cut Iran off from the global financial system and target sectors including oil, shipping, aviation, technology and electronic assets. The European Union said it would work with the United States and other partners to keep up pressure on Tehran.
The EU said its measures were to prevent Iran from using the global economy to fund what it called hostile activities and to protect freedom of navigation in the Strait of Hormuz.
Meanwhile, South Korea was weighing practical options, including possible military action, as the United States seeks more international support for the protection of commercial shipping, reports said.
The developments came as the United States and Iran continued a long-running standoff, with Washington’s mix of military pressure and a growing sanctions campaign.
Bessent previously warned countries and companies that continue to do business with Iran that they could face U.S. action. Washington was giving foreign governments time to roll back Iran-related activities before taking additional measures, he said.
The Strait of Hormuz, through which a large portion of global oil supplies normally passes, has emerged as a key flashpoint in the conflict.
