{ "story_id": "16b865cc81e2a076625c122a9b93f6cf", "desk": "drm3", "revision": 1, "published_at": "2026-09-04T02:46:24.000Z", "content_hash": "195207487c019491ca417353477f6ca25f6458fcc9f32fb3ae51eeb7d4bb9431", "hash_basis": "sha256 over `headline\\ndek\\nprose`, plus `\\n` + the canonical citations JSON when any source is placed, plus `\\n#blog` for blogs", "basis": { "headline": "US Treasury Secretary Bessent says allies will support economic isolation of Iran", "dek": "US Treasury Secretary Scott Bessent announced at the G20 that allies will support Operation Economic Outcast to economically asphyxiate Iran.", "prose": "US Treasury Secretary Scott Bessent announced on 2026-09-03 that US allies will support US efforts to 'economically asphyxiate' Iran through Operation Economic Outcast. [^1]\n\nUS Treasury Secretary Scott Bessent announced on September 3, 2026, that the European Union has officially joined Washington's economic pressure campaign against Iran. [^2]\n\nVice President JD Vance stated on Thursday that 'Operation Economic Outcast,' a Treasury Department initiative to economically isolate Iran, is currently working. [^3]\n\nUS President JD Vance stated that China bears more responsibility than Iran in the current situation. [^4]\n\nBessent said conversations with Chinese officials were 'productive' and that the US and China agree on more than they disagree on regarding Iran, both wishing to prevent Iran from obtaining a nuclear weapon. [^5]\n\nBessent said Iran is in 'economic death throes' and will soon be ready to make a deal with the US. [^6]\n\nBessent said the US does not need Chinese support for Operation Economic Outcast to succeed and that the US will block Iran from converting Chinese yuan into US dollars, stating 'When that money cannot be converted to dollars, then the Iranian regime will starve.' [^7]\n\nScott Bessent posted on X on September 3, 2026, thanking the European Union for its 'strong and early stance' on the matter. [^8]\n\nScott Bessent stated that the campaign aims to ensure the Iranian regime cannot exploit the global financial system to fund its nuclear ambitions, weapons programs, and terror proxies. [^9]\n\nBrussels emphasized that economic pressure alone would not resolve the crisis and that diplomacy remains essential for a peace settlement and freedom of navigation through the Strait of Hormuz. [^10]\n\nThe European Union listed concerns regarding Iran's nuclear and ballistic missile programmes, regional destabilizing activities, and alleged support for Russia in the war in Ukraine. [^11]\n\nChina and neighboring Pakistan have declared they will not comply with U.S. sanctions and intend to continue trade ties with Iran. 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