Hormuz Traffic Dwindles As US Threatens Economic Pressure
Only a handful of vessels are crossing the waterway as the United States vows to keep pressure on Iran and add new economic measures.
- Two vessels from the Abu Dhabi National Oil Company were attacked in the Strait of Hormuz on Thursday evening, causing transit through the waterway to grind to a near standstill on Friday.
- An Iranian parliamentary committee approved a plan Thursday banning transit for assets from "hostile" countries, including the United States and Israel, as Tehran refuses to reopen the waterway until its conditions are met.
- Defense Secretary Pete Hegseth asserted the United States Navy can maintain the blockade indefinitely, while Treasury Secretary Scott Bessent promised measures next week applying "economic isolation" on Iran.
- Benchmark Brent and West Texas Intermediate crude futures rose slightly to about $87 and $81 a barrel respectively, reflecting energy market volatility from the regional conflict.
- President Donald Trump faces mounting pressure to end the conflict before November midterm elections, as global economists warn the economic impact will worsen if the war continues.
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52 Articles
Even as Iran shows resilience in the war against the United States, its leaders fear that the threat of new economic sanctions by President Donald Trump may exacerbate the country's difficulties, rekindle social unrest and further undermine the legitimacy of the Islamic Republic.
Enemy Wants to Compensate for Defeat in Economic War: Iran's Vice President Warns of Escalating Sanctions, Market Inflation
Get latest articles and stories on World at LatestLY. Iran's First Vice President, Mohammad Reza Aref, has warned that external adversaries, specifically the United States and Israel, are shifting their strategy to economic warfare following recent military standoffs, according to Iranian media. World News | Enemy Wants to Compensate for Defeat in Economic War: Iran's Vice President Warns of Escalating Sanctions, Market Inflation.
Enemy wants to compensate for defeat in economic war: Irans Vice President warns of escalating sanctions, market inflation - The Tribune
Iran's First Vice President, Mohammad Reza Aref, has warned that external adversaries, specifically the United States and Israel, are shifting their strategy to economic warfare following recent military standoffs, according to Iranian media.
THE FIRST VICE PRESIDENT SAID: “JUST AS WE DEFEATED THE ENEMY IN THE LAST TWO IMPOSED WARS RELYING ON NATIONAL COHESION AND UNITY, IN ECONOMIC WAR WE CAN ALSO OVERCOME IT.
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St Louis Post-DispatchTraffic at near standstill
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