US vows 'economic D-Day' as Iran threatens to halt all oil exports

The United States has issued a stern warning to Iran, threatening an economic onslaught on par with the largest ever deployed, in a bid to compel the country to halt its oil exports. In a coordinated effort, the US is gearing up to impose sanctions on Iran’s trade partners, with Treasury Secretary Scott Bessent set to address journalists on Monday, unveiling even harsher measures.

The conflict between the US and Iran, which has been ongoing for six months, has claimed thousands of lives, primarily in Iran and Lebanon, and has left much of Iran’s conventional military capacity in ruins. Iran, however, has vowed to shut down all oil exports from the Gulf should the economic war persist. The US has pledged to target countries that show "appeasement" towards Iran, urging them to reconsider their actions.

Iran, on its part, has warned of a major military response if the sanctions continue. The US has also urged China to cooperate with their sanctions, citing that China relies heavily on oil imports from the Gulf region. Despite the US's hardline stance, Iran's economy has been grappling with rising inflation, a weakening currency, energy shortages, and other structural weaknesses prior to the recent attacks.