US uses Gulf states and Europe to isolate Iran’s economy

The European Union and several Gulf countries have agreed to help the United States isolate Iran economically after attacks on commercial ships in and around the Strait of Hormuz. Washington says the campaign aims to cut off financial resources that Tehran could use to rebuild its nuclear program.

The pressure comes as Iran enters a difficult period after more than six months of war with the United States and Israel. The conflict began on Feb. 28, followed by a ceasefire in April that collapsed in July. While Iran’s military and political elites have adapted without making major ideological concessions, daily life has become a struggle for much of the country’s 90 million people, the report says.

US Vice President JD Vance said Türkiye, Azerbaijan, the United Arab Emirates, Saudi Arabia and Qatar were helping the United States respond to Iran’s attacks on commercial vessels. He did not specify the form or scale of Türkiye’s cooperation. Washington has also increased pressure on its allies to provide financial and military support.

The latest escalation followed the deaths of two Filipino sailors when a Saudi oil tanker was attacked in the Strait of Hormuz, according to Saudi Arabia’s national shipping company. The United States later attacked an Iranian island in the strait, prompting Iran to strike US military targets in West Asia. The EU formally joined the US-led sanctions campaign, while South Korea said it was considering military support to help reopen the waterway.

Treasury Secretary Scott Bessent praised Brussels for joining the operation, called “Isolating Iran’s Economy.” “We appreciate their strong and early stance. The world is sending a clear message to the Iranian regime: we will not stop until every remaining financial channel is cut off,” Bessent wrote on social media. Brussels said on Aug. 31 that it supported efforts to halt Tehran’s destabilizing activities and resume peace talks, including through stronger economic pressure.

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We appreciate their strong and early stance. The world is sending a clear message to the Iranian regime: we will not stop until every remaining financial channel is cut off.