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US warns it will cut all economic ties with Iran
The US Treasury secretary also warned that any country partnering with Iran financially would be isolated, as Iran threatened to shut down oil exports from the region if the war continues.
BBC Business reports that US Treasury Secretary Scott Bessent said the United States will sever all economic ties with Iran, describing it as the “single greatest financial offensive ever” and saying the US-Israel war with Iran is entering its endgame.
According to the outlet, Bessent warned that any nation partnering with Iran financially would also be isolated, following what he called repeated deadline extensions from President Donald Trump’s administration on earlier threats.
Iran rejected the comments, Reuters reported, and said it would shut down all oil exports from the region if the war continues. The Iranian regime also warned shipping not to pass through the Strait of Hormuz without permission, noting that about one fifth of the world’s oil and gas typically passes through the waterway.
BBC Business adds that Bessent made the remarks in an opinion piece for the Financial Times and is expected to detail the economic pressure plan at a US press conference on Monday at 13:00 local time.