US-Iran war LIVE: US pushes allies, China to back Trump's economic war on Iran as Bessent warns of toughest sanctions
US-Iran war LIVE: The US on Thursday (local time) warned its allies and China to join President Donald Trump's new campaign to isolate the Iranian economy, pledging that Washington would ‘collapse this regime’ in Tehran. Tune in to Live Mint to catch all the latest US-Iran war-related updates.
On Thursday, the United States urged its allies and China to join President Donald Trump's new campaign to isolate Iran's economy, claiming the administration aims to "collapse this regime" in Tehran. Trump vowed to implement the "most crushing" economic operation against the Islamic Republic ahead of upcoming midterm elections.
However, Iran's Foreign Minister Abbas Araghchi dismissed these threats, labeling them "economic terrorism" and accusing Washington of focusing on its own financial crises rather than addressing Iran's human rights issues. Treasury Secretary Scott Bessent announced that the US would impose the "toughest sanctions in history" on Iran, suggesting this move would reduce the need for further military actions.
These sanctions followed Trump's previous threats of "economic warfare" and warnings of consequences for any country aiding Iran. Oil prices surged to a three-week high following these economic penalties, with West Texas Intermediate for October trading above $86 a barrel.
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