The Treasury Department is targeting Iran’s digital assets, gold, aviation, and shipping sectors, issuing new sanctions against 60 individuals, companies, and vessels linked to oil revenue and weapons procurement. These measures extend to entities in China, the United Arab Emirates, Singapore, and Europe. Bessent warned that any organization facilitating money laundering for Tehran faces removal from the US dollar system, asserting that no global player remains beyond the reach of American enforcement.
Tehran has dismissed the pressure, with Economy Minister Ali Madanizadeh claiming the government has a two-year contingency plan to manage the fallout. Despite this, the impact of the ongoing naval blockade is visible: oil exports through the Strait of Hormuz have plummeted from two million barrels per day to 0.4 million since the conflict began. While Defense Secretary Pete Hegseth noted that economic pressure is the current priority, he confirmed that military strikes remain a viable option.
Diplomatic efforts continue alongside the economic squeeze. Pakistan’s army chief, Asim Munir, visited Tehran this week to meet with leadership, following discussions with President Donald Trump. As Oman’s foreign minister prepares to arrive for talks regarding maritime transit, the civilian population faces deepening economic strain, with inflation continuing to erode living standards.
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