US announces expansion of sanctions in 'economic onslaught' on Iran
By David Lawder and Humeyra Pamuk WASHINGTON, Aug 24 (Reuters) - President Donald Trump's administration on Monday announced an expansion of secondary sanctions it can impose on entities and countries that maintain business ties with Iran around the world as Washington significantly ratchets up economic pressure on Tehran with the war nearing its 6-month mark.
Iran faces extreme economic pressure after months of conflict with the US. Former Revolutionary Guards chief Mohsen Rezaei has threatened to shut down oil exports entirely, highlighting this as a key strategic option. If the economic sanctions persist, Tehran could completely halt oil exports through the Strait of Hormuz and Persian Gulf.
Iran has already blacklisted 45 tankers for non-compliance and has carried out missile, drone, and speedboat attacks against ships attempting to navigate the strait. Red Sea shipping has also been targeted by Houthi allies, raising concerns about increased oil market volatility and prices. In retaliation, Iran has threatened neighboring countries, targeting US bases, energy infrastructure, and other locations.
Intensified attacks on upstream oil or gas facilities could further escalate tensions. While Iran's main weapons may not reach Western targets, the Revolutionary Guards have demonstrated willingness to explore alternative attack methods. Western security services have accused Iran of cyberattacks on water plants in the US and possible local attacks or assassinations abroad.
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- What are Iran's options to escalate further in face of US economic threats? koreatimes.co.kr
- Explainer-What are Iran's options to escalate further in face of US economic threats? al-monitor.com
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