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The US is preparing new economic measures against Iran, with President Donald Trump saying Tehran wants a deal but is not ready for the right one. Treasury Secretary Scott Bessent hinted at unprecedented sanctions, while Trump dismissed the importance of the conflict ending before midterm elections, and Iranian media rejected his inflation claims.
Washington has announced an unprecedented push to isolate Iran's economy, with Treasury Secretary Scott Bessent pledging to sever every economic lifeline of the 'tyrannical regime.' Iran has vowed to shut down Gulf oil exports if the pressure continues, as diplomatic efforts and a crisis in the Strait of Hormuz deepen.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Saturday that Tehran received 'numerous messages' from neighboring countries seeking new regional security arrangements, though he did not name any nations. The remarks come as Washington prepares to announce what Treasury Secretary Scott Bessent has called the 'toughest sanctions in history' against Iran.
Shipping through the Strait of Hormuz remains far below pre-war levels, with only a handful of vessels transiting daily, even as President Trump asserts the US has 'total control' over the waterway. Iran conditions any full reopening on the lifting of the blockade and sanctions, while diplomatic efforts to end the conflict remain stalled amid conflicting claims about the strait's status.
President Donald Trump announced what he called the most crushing economic operation ever against Iran, threatening consequences for any country providing a financial lifeline as talks remain stalled. Iranian officials blamed external pressure for domestic difficulties while reports detailed soaring food inflation and currency collapse. Analysts pointed to both sanctions and long-term regime spending priorities as drivers of the crisis.