Berliner Boersenzeitung - US vows 'economic asphyxiation' of Iran with new sanctions

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.833961
GBP 0.834166
GEL 2.893653
GGP 0.833961
GHS 13.055243
GIP 0.833961
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.833961
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.833961
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.311039
MNT 4015.078679
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 133.25575
WST 3.108617
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.644798
MXV 2.33632
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

US vows 'economic asphyxiation' of Iran with new sanctions
US vows 'economic asphyxiation' of Iran with new sanctions / Photo: Jim WATSON - AFP

US vows 'economic asphyxiation' of Iran with new sanctions

US Treasury Secretary Scott Bessent on Monday laid out plans for the "economic asphyxiation" of Iran, expanding Washington's secondary sanctions threats and warning of dire consequences for countries that do not join the campaign.

Text size:

The announcement comes almost six months into a war on Iran that has ground to a stalemate, with stalled peace talks and Tehran blocking most traffic through the crucial Strait of Hormuz.

Bessent earlier said the United States was declaring an "economic D-Day" on Iran, but his announcement named no specific countries beyond Iran and no timelines.

"Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," Bessent told a press conference.

"We are going to hold everyone accountable, and this is economic asphyxiation of this regime."

He added that countries not joining US sanctions would "share in the isolation" of Iran, and noted that President Donald Trump was making phone calls to world leaders with requests to stop interactions with Tehran.

The Treasury Department said expanded secondary sanctions would target Iran's digital assets, technology, gold, aviation and shipping sectors.

Bessent vowed that any entity "that facilitates money laundering on behalf of Iran will be removed from the US dollar system."

In a post before the announcement, Deputy Foreign Minister Kazem Gharibabadi said the latest US threats were an admission of military defeat, and warned countries against aiding Washington.

"Your narrative doesn't add up," Gharibabadi said, asking why, if Washington had achieved its goals, "there is a need for 'the largest financial invasion in history' and the mobilization of 'all institutions and powers' of the United States!

"Is this a victory or an admission of America's defeat?"

- Oil exports plunge -

The US and Israel linked the launch of their war in February to Iran's nuclear program, but the focus since the early days of fighting has been on the Strait of Hormuz, a vital route for global oil and gas supplies.

Tehran continues to blockade the strait, which it did not restrict before the war, driving up global inflation and heaping domestic pressure on Trump ahead of mid-term elections in November.

Iran has weathered decades of crushing international sanctions, and before the war it continued to export millions of barrels of oil, mostly to China, and to evade sanctions through complex international financial networks.

Asked on Monday if Chinese banks would be targeted by the new sanctions, Bessent said "no one is above the reach of US sanctions."

The US naval blockade of Iran has seen its oil exports via the Strait of Hormuz fall from two million barrels a day pre-war to just 0.4 million by mid-August, according to maritime tracker Kpler.

Iran's parliamentary speaker and chief negotiator Mohammad Bagher Ghalibaf brushed off US threats, saying on X that "economically, the United States is not in a position that would allow it to further restrict its relations with other countries".

For ordinary Iranians, the standoff is likely to bring only more economic pain after years of rampant inflation, which in December and January fuelled massive anti-government protests.

Sarah Hassanbeigi, a 32-year-old pharmacist in Tehran, said: "I don't think people can really take this much longer."

- Pakistani delegation -

Last week, Iranian President Masoud Pezeshkian, considered a relative moderate, said Tehran should "bring the war to an end now as we are in a position of power."

That followed Supreme Leader Mojtaba Khamenei appointing hardliners to key security positions.

Throughout the war, diplomatic efforts, pushed on by mediators, have sought a negotiated end to the conflict.

On Monday, Pakistan's army chief Asim Munir visited Iran and met with Ghalibaf.

Islamabad was a leading mediator in talks that helped secure an April ceasefire that later fell apart. It is also a major trading partner of Iran, possibly opening it up to the threat of the new sanctions.

Oman's foreign minister was due in Iran on Tuesday, as Muscat and Tehran seek a deal on regulating passage through Hormuz.

(Y.Yildiz--BBZ)