US threatens Iran with ‘greatest financial offensive’

The United States is set to impose a series of unprecedented sanctions on Iran, targeting nations and businesses that continue to engage with Tehran's economy, according to Treasury Secretary Scott Bessent. He described the measures as the "greatest financial offensive ever marshalled" against Iran, emphasizing that it will commence at dawn.

This aggressive financial campaign follows months of conflict and stalled diplomatic efforts between the two nations. Bessent's announcement of the sanctions comes after Iran warned that it would halt oil exports from the Persian Gulf if the economic pressure persisted. Iranian officials, including Supreme Security Council Secretary Mohsen Rezaei, have threatened to stop all oil exports through the Strait of Hormuz if the economic conflict continues.

The threat has already prompted concerns about the potential disruption to global oil supplies and fuel prices, as Iran retains significant military capabilities and can threaten Gulf states and shipping in the strategic waterway. The economic pressures faced by Iran, exacerbated by the ongoing conflict, reconstruction costs, and a weakened currency, raise concerns that additional sanctions could deepen hardship and fuel domestic unrest.

Diplomatic efforts to de-escalate tensions have been underway, with countries like Qatar, Pakistan, and Turkey stepping in to prevent further escalation. However, Iran has called on these nations to refrain from supporting the US economic war against Iran.