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Bessent says US will apply unprecedented measures on Iran

The comments come as Iran says no vessel can transit the Strait of Hormuz without Tehran's permission, and the UAE accused Iran of attacking two vessels.

Reported · Written up by our desk · Central Banks

US Treasury Secretary Scott Bessent said Washington will apply measures on Iran described as unprecedented, with additional announcements expected next week, according to Reuters, as cited by FXStreet.

FXStreet reported that an Islamic Revolutionary Guards Corps official, Hossein Taeb, said the Strait of Hormuz is under Iran's control and management, and Iran's joint military command said no vessel can transit the waterway without Tehran's permission.

The report also said the UAE stated that Iran attacked two of its vessels as they transited the Strait of Hormuz, calling the incident flagrant maritime violations.

At the time of writing, West Texas Intermediate crude was up 0.18% on the day at $81.50, FXStreet noted, alongside a discussion of how markets can shift between risk-on and risk-off behavior during geopolitical stress.

Latest closeWTI crude $81.19 ▼2.5%

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