US threatens Iran with economic isolation
US Treasury Secretary Scott Bessent said the United States is preparing new measures against Iran and described the campaign as economic isolation on an unprecedented scale. He said the pressure would combine financial measures with the continued blockade in the Strait of Hormuz, which he said would prevent traffic into and out of Iranian ports.
The comments came as oil prices moved higher on Friday, with traders reacting to renewed concerns about supply disruptions linked to the blockade and wider tensions in the region. The report also noted that the latest US stance follows a broader pattern of escalating pressure on Iran.
Key Events
- US Treasury Secretary Scott Bessent threatened to impose economic isolation on Iran.
- Bessent said new measures are expected next week.
- He linked the pressure to the continued blockade in the Strait of Hormuz.
- Bessent said the blockade would stop goods from entering or leaving Iranian ports.
- Oil prices rose slightly on Friday after the US threat reinforced supply concerns.