Trump administration threatens new sanctions on countries that refuse to cut economic ties with Iran
The Treasury Department designated more than 60 entities and vessels and warned that countries keeping business ties with Tehran could face U.S. financial penalties.
- Treasury Secretary Scott Bessent unveiled "Operation Economic Outcast" on Monday in Washington, a plan using secondary sanctions to financially squeeze Iran into submission and target its trading partners globally.
- The war in the Middle East continues with no resolution after a 60-day diplomatic window expired last week. Talks have stalled over control of the Strait of Hormuz, which Iran has effectively closed to global shipping.
- Supreme National Security Council Secretary Mohsen Rezaei warned that Tehran would regard any country's participation in the "economic war" as an "act of war." He threatened to halt all oil exports through the Persian Gulf if the campaign continues.
- Experts warn the plan could backfire by spiking oil prices and closing shipping lanes, while uncertainty remains regarding potential actions against trading partners China and India. The United Arab Emirates has already suspended trade with Iran.
- Diplomatic efforts continue as Pakistan's army chief travels to Iran to revive talks, while Oman's foreign minister is set to meet his Iranian counterpart on Tuesday to discuss the Strait of Hormuz.
244 Articles
244 Articles
Trump's 'Economic D-Day' Puts China and Iran's Trade Partners at Risk of Dollar-System Ban
Donald Trump's administration has launched an economic offensive against Iran that threatens foreign banks, companies and governments with exclusion from the US financial system if they continue supporting Tehran. The campaign, named 'Operation Economic Outcast', expands potential secondary sanctions across digital assets, technology, gold, aviation and shipping. Treasury Secretary Scott Bessent warned that entities laundering money for Iran cou…
US announces new sanctions on Iran, threatens to punish countries, entities trading with it
Mr Bessent said the US was launching an “economic onslaught” against Iran’s financial connections to sever its economic pipeline, “until Tehran stands alone. The post US announces new sanctions on Iran, threatens to punish countries, entities trading with it appeared first on Premium Times Nigeria.
Iran defiant as US escalates economic isolation measures
Iran has vowed to retaliate against expanded US economic sanctions that the Americans said would cut off Iran's economic lifelines, with Tehran expressing confidence that major trading partners would resist Washington's pressure campaign.
The market sceptically welcomes the promise of sanctions for all countries that do not cut off their economic ties with Iran. More information: The controversial evacuation of Air Force One: Trump escaped in a catering truck with his entourage leaving Rubio on board
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