US threatens unprecedented financial blockade on Iran, warns backers

On Sunday, US Treasury Secretary Scott Besant unveiled the most substantial financial blockade ever against Iran, warning that countries providing financial support to Tehran will face severe repercussions and be regarded as globally ostracized by Washington. In a Financial Times op-ed, Besant clarified that any nation aiding Iran's financial needs will share in the US-led isolation, urging them to consider the consequences.

The US official emphasized that those who persist in supporting Tehran exceed the limits of US tolerance, questioning their allies' willingness to risk relationships for Tehran's sake. Besant stated that Washington's financial isolation will render military force unnecessary and highlighted that President Donald Trump has devastated Iran's economy in unprecedented ways, aiming to sever every economic lifeline to the country.

He also warned of swift and firm retaliation from Trump if Iran attacks US forces or its Gulf neighbors. Iranian Foreign Minister Abbas Araghchi dismissed the US threats as a sign of desperation and insisted that the expected measures would not succeed in defeating Tehran. The US president also warned of economic consequences for any country providing vital support to Iran.

These escalations occur as Iran's economy faces significant pressure from recent international and US sanctions, with the country's infrastructure under repeated strikes since the US and Israel carried out attacks on February 28. Despite the ongoing crisis, Tehran has maintained a defiant stance nearly six months into the conflict, with the situation leading to an almost complete halt in shipping through the Strait of Hormuz, following Iran's refusal to allow unauthorized oil tankers to pass through this crucial global energy route.