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Latest News & Videos

Treasury Secy Bessent says EU "officially" joins US-led "Operation Economic Outcast" against Iran

Treasury Secy Bessent says EU "officially" joins US-led "Operation Economic Outcast" against Iran

W ashington DC [US], September 4 : US Treasury Secretary Scott Bessent on Thursday (local time) said that the European Union has "officially joined" the US-led "Operation Economic Outcast" against Iran, welcoming what he described as the bloc's strong and early stance in maintaining economic pressure on Tehran as the West Asia conflict continues. "The European Union has officially joined Operation Economic Outcast and we appreciate their strong and early stance," Bessent said in a statement on X. "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. 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. Bessent's remarks came after the EU said it was prepared to support additional economic pressure on Iran, including through the US-led operation, while stressing the need for continued diplomatic efforts and de-escalation. "The European Union has consistently urged Iran to curb its nuclear programme, and its ballistic missile programme, refrain from destabilising activities in the region and in Europe, stop its military support for Russia's war of aggression against Ukraine and cease the violence and repression against its own people," the EU said in a statement shared by Bessent. The bloc said it 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". The EU also said it had already adopted extensive sanctions aimed at preventing Iran from exploiting the global economy and financial system to sustain what it described as hostile actions and undermine international security. "It remains ready to take further measures, where necessary, to safeguard its security and interests, including freedom of navigation through the Strait of Hormuz," the EU said. The bloc welcomed efforts aimed at ensuring Iran ceases its destabilising activities and engages in peace negotiations "with good faith", adding that this could include additional economic pressure through Operation Economic Outcast. "The EU will continue to work closely with the United States and other G7 and international partners to maintain pressure on Iran and contribute to de-escalation and regional stability," it said. Bessent announced the launch of "Operation Economic Outcast" last month, describing it as a campaign aimed at cutting Iran off from international financial networks and restricting revenue streams that Washington says support the Iranian government. "The US Department of the Treasury has launched Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its neighbours," Bessent said at the time. "Our goal is to sever every economic lifeline that sustains this tyrannical regime," he said. According to Bessent, the US had identified networks used by Iran to move oil and circumvent sanctions. The Treasury Department also expanded categories of Iran-related conduct that could potentially face US sanctions, including activities involving digital assets, technology and shipping. "Iran now faces a clear choice, with only two paths before them: complete global isolation and a subsistence economy, or a path to normalcy with the opportunity to rejoin the global economy," Bessent had said. The EU's latest statement signals its willingness to work alongside Washington and other G7 and international partners to maintain economic pressure on Tehran, while simultaneously calling for diplomacy, regional de-escalation and safe navigation through the Strait of Hormuz. Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Lokmat Times

Lokmat Times

• 1m ago

Canadian PM Carney says Ottawa "ready" to strike trade deal with US that benefits both countries

Canadian PM Carney says Ottawa "ready" to strike trade deal with US that benefits both countries

Lokmat Times

Lokmat Times

•1m ago
India, Belgium unveil 10 key outcomes during PM De Wever’s visit; MEA says ties focused on 3Ts - trade, technology, talent

India, Belgium unveil 10 key outcomes during PM De Wever’s visit; MEA says ties focused on 3Ts - trade, technology, talent

Lokmat Times

Lokmat Times

•1m ago
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Trump administration moves US Supreme Court to allow sweeping changes to mail ballots

Trump administration moves US Supreme Court to allow sweeping changes to mail ballots

Lokmat Times

Lokmat Times

•1m ago
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Politics

"BJP leaders overestimating themselves, we are ready to debate on park land use bill": Priyank Kharge

"BJP leaders overestimating themselves, we are ready to debate on park land use bill": Priyank Kharge

B engaluru (Karnataka) [India], September 4 (ANI): Karnataka Home Minister Priyank Kharge on Thursday rejected BJP leader R Ashoka's claim that the state government withdrew the Parks Amendment Bill allowing limited use of public spaces, including parks, for infrastructure projects, not due to pressure from the Opposition. While speaking with the media, Kharge said BJP leaders are overestimating themselves. Neither does this government work on the whims and fancies of their decisions, nor do we have to bend backwards to listen to them. We passed a bill with respect to utilising land of public spaces, including parks, for government infrastructure, which has been done earlier in previous governments also across the state. So we have gotten a bill limiting the land usage for that. And we wanted to debate this in the assembly, but they just refused to. We begged, we pleaded, we tried to reason them out. There are bills, there are issues, there are farmer issues; why don't we debate it in the assembly? They just refused to let the house run," he said. His remarks come after the state government on Thursday withdrew the proposed Parks Amendment Bill for now and will reintroduce it in the next Assembly session after placing it in the public domain for discussion and consultation. He said Chief Minister DK Shivakumar considered the Bill important and believed that it required a wider debate. "So today we have withdrawn that Bill in the Cabinet, and we are representing it in the Assembly for a debate. We are not changing one full stop, one comma in the Bill. We are ready to debate. If the public comes up with good suggestions, we will adopt them," he said. Kharge maintained that the Bill had not been withdrawn because of the BJP's agitation and said the government would present it again for discussion. On the broader issue of public spaces and infrastructure, Kharge said the matter was not limited to Bengaluru but was a statewide issue that required public discussion. Referring to parks and other public spaces, he said development requirements also included roads, flyovers, highways and other infrastructure. He said the objective was to assess the ramifications of a Bill, scheme or policy at an early stage and incorporate positive suggestions before implementation. Kharge also defended the need for infrastructure projects, including the proposed tunnel road, and challenged the Opposition to suggest alternatives if it opposed projects such as the tunnel road or steel flyover. Referring to Union Minister Nitin Gadkari's remarks on the need for a tunnel road in Bengaluru, "We are ready to debate. We are ready to deliberate. We are ready to correct ourselves if there is any mistake," he said. On questions about GDP data, Kharge criticised the BJP-led government at the Centre. He alleged that the government had started from a higher base and was consequently showing higher GDP growth, while claiming that the actual growth was around 2.6 to 2.8 per cent. He questioned India's position on poverty and purchasing power and said that when an economic adviser to the government itself raises such issues, there was a need to examine the system and the narrative around the data. On the appointment of a Chief Executive Officer for the Ram Janmabhoomi Teerth Kshetra Trust and questions raised by the Samajwadi Party and Congress, Kharge said the issue should be examined from the perspective of transparency and accountability. He questioned whether the presence of government officials in the Trust necessarily meant that the institution was free from allegations of corruption and said the matter was one that the public needed clarity on. He said the government should be transparent and ready to discuss questions concerning the Trust and the use of public resources. Kharge also responded to questions concerning the Karnataka Public Service Commission (KPSC) recruitment controversy and criticism. Kharge said the Karnataka Public Service Commission has the authority to issue and withdraw notifications and argued that decisions concerning recruitment must be taken according to the established process. He said the government had not received the relevant inquiry report when the issue was initially being raised and that the report was received only in February 2026. He said the matter had subsequently gone before the High Court and that the government was awaiting the court's decision. (ANI)
ANI

ANI

• 3hr ago

"Victory for BJP's fight," says Karnataka LoP R Ashoka after Congress govt withdraws bill 5% park land use

"Victory for BJP's fight," says Karnataka LoP R Ashoka after Congress govt withdraws bill 5% park land use

ANI

ANI

•3hr ago
Teachers on a mission

Teachers on a mission

The Tribune

The Tribune

•3hr ago
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Telangana: Konda Couple Adopt Wait-And-Watch Approach

Telangana: Konda Couple Adopt Wait-And-Watch Approach

Deccan Chronicle

Deccan Chronicle

•7hr ago
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World

US VP Vance says all options against Iran "on table", including covert pressure

US VP Vance says all options against Iran "on table", including covert pressure

W ashington DC [US], September 4 : US Vice President JD Vance on Thursday (local time) said that the Trump administration has a range of options at its disposal to deal with Iran, including economic, military, diplomatic and covert measures, as tensions between Washington and Tehran continue to escalate amid the conflict in West Asia. Speaking during a media briefing, Vance said the administration would not publicly disclose its plans for engaging with Iran, stressing that doing so would limit US President Donald Trump's ability to make decisions. "There are a lot of additional tools that we have at our disposal. Some of those the President will use and some of them he won't," Vance said. "But everything that could happen is on the table. Economic pressure, military pressure, diplomatic pressure, covert pressure. Of course these are tools in the President's toolkit," he added. Vance said the administration's approach was also aimed at preventing a wider global energy crisis, accusing Iran of continuing to target commercial shipping in the Strait of Hormuz. "We would have had an energy crisis because the Iranians refuse to stop acting like terrorists in the Strait of Hormuz," Vance said, while defending the US military's efforts to protect commercial shipping and maintain the flow of oil and gas. The Vice President said Washington had to retain flexibility in deciding how to respond to Tehran and declined to spell out what measures could be adopted in the coming months. "Part of the reason they're tools in the toolkit is because the Vice President, hopefully, is not dumb enough to stand up before all of you and a million Americans watching at home and say exactly what it is that we plan on doing," Vance said. His remarks come as the seven-month-old conflict between the US and Iran shows few signs of a lasting resolution, despite indications that Trump may be considering declaring the war over. According to a Wall Street Journal report, Trump is privately weighing whether to declare an end to the war, particularly as the US approaches midterm elections and energy prices remain elevated because of the conflict. At the same time, the Pentagon has extended troop deployments in West Asia, raising the possibility that military tensions could persist into next year. The report came amid a fresh wave of strikes between the two sides. The United States Central Command said it had conducted strikes against multiple sites inside Iran, while Tehran responded with attacks on US-linked facilities across the Gulf. Trump, meanwhile, said on Wednesday that he did not expect the conflict, which began on February 28, to continue for "very much longer". Speaking to reporters at the Oval Office, Trump said US forces had carried out a "very heavy attack" on Iran the previous night, targeting newly established military equipment along the Strait of Hormuz, including radar and missile-related systems. "We hit them hard last night, very hard. They gave a little love tap, but we hit them very hard last night," Trump said. The escalation comes shortly after the Trump administration launched "Operation Economic Outcast", a campaign announced by US Treasury Secretary Scott Bessent to intensify economic pressure on Iran. The operation is aimed at targeting what Washington describes as Tehran's principal economic lifelines, including oil, shipping, aviation and digital assets. Bessent said the campaign seeks to cut Iran off from international financial networks and restrict revenue streams supporting the Iranian government. Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Lokmat Times

Lokmat Times

• 1m ago

China “willing to play ball” with US on Iran’s economic isolation: Vance says Beijing “more responsible” than Tehran

China “willing to play ball” with US on Iran’s economic isolation: Vance says Beijing “more responsible” than Tehran

Lokmat Times

Lokmat Times

•1m ago
India’s relief response continues as fresh 21.5 tonnes of aid arrive in flood-hit Nepal

India’s relief response continues as fresh 21.5 tonnes of aid arrive in flood-hit Nepal

Lokmat Times

Lokmat Times

•1m ago
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Nepal Foreign Minister rules out climate compensation demand, says govt made no such ask from India, China or US after floods

Nepal Foreign Minister rules out climate compensation demand, says govt made no such ask from India, China or US after floods

Lokmat Times

Lokmat Times

•1m ago
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