US vows ‘economic D-Day’ as Iran threatens to halt all oil exports
Summary
The US is preparing sweeping new sanctions on Iran, warning of an “economic D-Day” against the country’s trade partners. Iran has threatened to stop all oil exports if the economic pressure continues, raising fears of further escalation and disruptions in the Strait of Hormuz.
Key Points
- US Treasury Secretary Scott Bessent said the new sanctions would amount to the “greatest financial offensive ever marshalled” against Iran.
- Iran warned that no oil would be exported if the economic war continues, including through the Strait of Hormuz.
- The conflict has already damaged Iran’s economy, disrupted shipping, and driven up pressure on global fuel prices.
- Pakistan said army chief Asim Munir will visit Tehran as regional powers try to promote diplomacy.
