Iran faces ‘greatest financial offensive ever’, says US Treasury Secretary Scott Bessent– www.bbc.co.uk
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EXCERPT:
The US announced a host of sanctions against Iran and threatened its supporters in what Treasury Secretary Scott Bessent said was “the single greatest financial offensive ever”.
Labelling it an “economic D-Day” for Iran, Bessent said the US would sever all economic ties with the country and added that any nation financially partnering with Iran would also be isolated.
However, the latest threat to the Iranian regime follows several U-turns and extended deadlines from the White House in its efforts to end the conflict.
The war has led to hikes in global oil prices, and in response to the latest threat Iran warned it would shut down all oil exports from the region if the war continued.
The Iranian regime has also issued a fresh warning to shipping to not pass through the Strait of Hormuz without its permission, according to Reuters.
One fifth of the world’s oil and gas usually passes through strait, a narrow waterway south of Iran, but the flow has been effectively blocked by the country since the conflict began at the end of February, leading to higher oil prices globally.