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Home›Global Markets›Trade & Tariffs›Iran rejects military solution to US war as talks stall

Iran rejects military solution to US war as talks stall

Washington has shifted toward economic pressure as the blockade of the Strait of Hormuz remains the key dispute, amid reports of another tanker strike.

Iran’s foreign minister, Abbas Araghchi, said there would be no military solution to the United States’ war against Iran and warned that any renewed confrontation would draw a stronger response, per Agence France-Presse as carried by SCMP Economy.

SCMP Economy reports that efforts to end the conflict appear at an impasse, after a late-February US and Israel war campaign involving heavy bombardment failed to bring a decisive close.

The main sticking point remains Iran’s attempt to blockade the Strait of Hormuz, a key shipping route for Gulf oil and gas, SCMP Economy adds, citing a UK maritime agency report that another tanker was struck by an unknown projectile.

SCMP Economy also notes that Washington has dialled back military operations in recent weeks, favoring economic pressure over expanded strikes.

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