Day' as Iran threatens to halt all oil exports
The United States is preparing a major financial offensive against Iran, while Iran threatens to halt all oil exports through the Strait of Hormuz in retaliation. Pakistan's army chief is currently in Tehran attempting to mediate the escalating geopolitical tensions.
Why it matters
The potential closure of the Strait of Hormuz and new US sanctions pose significant risks to global energy markets and regional stability in the Middle East.
BURSA SGX Home Geopolitics Make The Edge Malaysia your preferred source on Google CAIRO/ISLAMABAD (Aug 24): Pakistan's army chief was visiting Tehran on a mediating mission on Monday as the United States prepared to roll out "the greatest financial offensive ever" targeting Iran's trade partners.
Iran dismissed the US threat, vowing to shut down all oil exports from the Gulf "if the economic war continues". It issued a new warning to shipping not to pass through the Strait of Hormuz without its permission, listing 45 ships it said had violated its rules and threatening retaliation for any ship-to-ship transfers with them.
US Treasury Secretary Scott Bessent has promised to reveal severe measures on Iran, which has endured near-continuous economic sanctions since the Islamic Revolution of 1979, when he gives a press conference at 1pm EDT (1700 GMT) on Monday.
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