Iran vows to retaliate against countries that cooperate with fresh US sanctions
Test of US rhetoric will rest on whether nations such as India, China and Russia view economic threats as credible Iran has vowed to retaliate against any country that cooperates with the US attempt to impose fresh sanctions against Iran in what the Treasury secretary, Scott Bessent, has billed as “the single greatest financial offensive ever marshalled against an adversary”. In advance of the US…
Iran has vowed to retaliate against countries that cooperate with fresh US sanctions. The US Treasury Secretary, Scott Bessent, has announced that the sanctions will be "the single greatest financial offensive ever marshalled against an adversary". In response, Iran has threatened to shut down all oil exports from the Gulf "if the economic war continues".
The United Arab Emirates, Iran's biggest trading partner in the Middle East, has announced it is ending all trade with Iran, a move Tehran believes was coordinated between Washington and Dubai. India's stock market fell on Monday, tracking subdued global markets, as investors awaited details of the US sanctions. Global stocks slipped on Monday and oil prices eased to $93 per barrel.
According to The Guardian, Iran views the economic threats as a test of US rhetoric, particularly from nations such as India, China and Russia. Tehran considers any support for the measures an "act of war". The Strait of Hormuz has been effectively closed for most of the past six months, causing Brent crude to trade just below $90 a barrel.
Brief written by urgent.news from The Guardian, Business Recorder, DW English (Top Stories), Middle East Eye, Free Malaysia Today — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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