Global Markets
Home›Global Markets›Trade & Tariffs›Sanctions trigger petrol queues in Tehran amid US push…
Sanctions trigger petrol queues in Tehran amid US push to cut Iran’s lifelines
The US announced fresh sanctions targeting Iran six months into a conflict with peace talks stalled and much of Strait of Hormuz traffic blocked, heightening fears of higher local costs.
Long queues formed at petrol stations in Tehran after the United States announced fresh sanctions aimed at pressuring Iran, according to Agence France-Presse via SCMP Economy. The report says Washington is leaning on economic measures as the war enters a six month period in which the military front has ground to a stalemate.
SCMP Economy reports that US Treasury Secretary Scott Bessent described the effort as an “economic asphyxiation” strategy, saying the objective is to sever economic lifelines that sustain Iran’s government. The article also notes that peace talks are stalled and that most traffic through the crucial Strait of Hormuz is blocked.
The outlet adds that while Iran’s leaders have dismissed the tough rhetoric, some residents in the capital feared the sanctions would affect daily life and prices. A property agent, Mehdi Yazdian, said sanctions affect people’s lives and urged authorities to control prices, while also saying Iranians have remained resilient as sanctions have been in place for decades.