Middle East war: US readies Iran sanctions as Tehran threatens Gulf oil

Iranian officials are unveiling plans to bypass U.S. sanctions by strengthening economic ties with neighboring countries and conducting trade using national currencies. Mohammad Bagher Ghalibaf, the Iranian Parliament Speaker and chief negotiator, criticized U.S. economic and foreign policies, stating Iran will circumvent unjust sanctions by deepening economic ties with nearby nations.

Tehran has reportedly received numerous messages from neighboring countries regarding a new, independent regional security order that operates independently of U.S. influence. Ghalibaf emphasized the importance of economic cooperation alongside security arrangements, highlighting the potential for regional states to have a stake in maintaining the functionality of trade, energy flows, and transportation networks, particularly through the Strait of Hormuz.

Oman has proposed a regional management system involving Iran and other parties, modeled partly on arrangements around the Strait of Malacca, which would involve voluntary fees for navigation and safety services. Amidst ongoing tensions between the U.S. and Iran, the situation remains fluid as both countries navigate their respective diplomatic and economic strategies.