Iran defiant as Bessent says US likely to announce bank sanctions this week
DUBAI/ASHEVILLE, North Carolina — U.S. Treasury Secretary Scott Bessent said on Tuesday Washington was likely to announce bank sanctions against Iran this week, stepping up an attempt to "economically asphyxiate" Iran's leadership after six months of conflict. Oil prices rose further after the first exchange of direct attacks since July and reports of two tankers being hit leaving the Strait of…
U.S. Treasury Secretary Scott Bessent announced on Tuesday that the United States is likely to impose sanctions on Iran this week, escalating efforts to economically cripple the country's leadership following six months of conflict. Oil prices surged further after direct hostilities resumed for the first time since July, as well as reports of two tankers being struck in the Strait of Hormuz, the critical oil supply waterway that Iran has effectively blocked from shipping.
Despite Tehran's defiant stance, warning that it would prevent oil exports from the Gulf, U.S. President Donald Trump vowed to "hit Iran hard" in response to the renewed Iranian strikes. Bessent's assertion of an imminent bank sanction, coupled with his appeal for support from allies, underscores the intensifying pressure on Iran's economy.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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