The European Union has joined the United States-led economic pressure campaign against Iran, known as “Operation Economic Outcast,” according to US Treasury Secretary Scott Bessent.
In a post on X, Bessent said the United States and its partners would continue working to restrict Iran’s access to the international financial system. He said the measures were intended to prevent Tehran from financing its nuclear and weapons programmes and supporting groups that Washington describes as terrorist proxies.
According to Bessent, the international community was delivering a clear message that economic pressure on Tehran would continue as efforts intensified to cut off its remaining financial channels.
The development comes amid heightened regional tensions, with international attention also focused on security in the Strait of Hormuz.
South Korea is considering contributing to security operations in the strategically important waterway, although Seoul has indicated that any involvement would have to be compatible with its own military preparedness.
A South Korean presidential official said the government could consider making a contribution provided it did not undermine the country’s defence readiness. The matter remains under consideration.
However, Australian broadcaster SBS reported that the South Korean military had already begun practical preparations for a potential deployment. According to the report, possible assets include P-8 maritime patrol aircraft, an explosive ordnance disposal team and a logistics support vessel.
A senior South Korean military official also said discussions were taking place with relevant countries regarding potential base ports and operational facilities.
Seoul had previously indicated that it would consider sending forces to the Strait of Hormuz only after the end of the US-Iran war.
The issue has attracted greater attention following criticism from US President Donald Trump over South Korea’s refusal to participate in military action against Iran. Washington had also recently reduced the scale of a military exercise with South Korea.
Any South Korean deployment to the Strait of Hormuz would have to pass through several domestic procedures. These include consideration by the National Security Council, approval by the Cabinet and consent from the National Assembly.
The developments come as the Strait of Hormuz remains a major focus of regional tensions. The continuing conflict is increasing concerns over the security of international shipping, global energy supplies and diplomatic relations
