US ‘economic asphyxiation’ of Iran sends Tehranites queuing for petrol
Long queues formed at petrol stations in Tehran on Tuesday after the United States announced fresh sanctions aimed at pressuring Iran into submission. Washington has turned to pulling economic levers six months into a war on Iran that has ground to a stalemate militarily, with peace talks stalled and most traffic through the crucial Strait of Hormuz blocked. US Treasury Secretary Scott Bessent on…
Petrol stations in Tehran saw long lines on Tuesday following the United States' announcement of new sanctions aimed at pressuring Iran. The sanctions, part of a broader "economic asphyxiation" strategy, seek to sever every economic lifeline supporting Iran's regime. US Treasury Secretary Scott Bessent stated the goal is to weaken the regime economically, a plan that residents in the capital feared could impact daily life.
Mehdi Yazdian, a property agent, noted that while sanctions affect everyone, Iranians are resilient and have endured similar measures for decades. The sanctions, which target Iran's digital assets, technology, gold, aviation, and shipping sectors, have already affected oil prices, causing them to fall around 3% to below $90 a barrel as traders assessed the risk of renewed military action decreasing.
Despite the sanctions, Iran has a history of evading restrictions through complex financial networks. The government has dismissed the threat, predicting another "defeat" for Washington and warning that any entity aiding Iran in oil revenue generation, weapons procurement, or cyber operations could be removed from the US dollar system.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
