Tehran expressed confidence that major trading partners would withstand Washington’s pressure campaign, and Iran pledged to fight against increased US sanctions that the Americans claimed would cut Iran’s economic lifeline. While announcing the steps on Monday, US Treasury Secretary Scott Bessent refrained from imposing the harshest penalties, stating that nations that continued to trade with Iran stood the prospect of being kicked out of the dollar-based financial system.
Bessent said he would allow them time to comply with the new rule, but he declined to name the countries that will be targeted or disclose when the fines would go into force. Although the Treasury Department did announce fresh sanctions on sixty people, organizations, and ships, none of the Chinese financial firms accused of aiding Iran’s oil traffic were included in the list. In June, Iran and the United States struck an interim agreement known as the “Islamabad Memorandum,” which was intended to put an end to the conflict that started with US and Israeli attacks on Iran. However, the agreement swiftly fell apart.
At a press conference on Monday at the Treasury Department in Washington, DC, US, US Treasury Secretary Scott Bessent discusses more sanctions on Iran. The Pakistani military stated in a statement on Tuesday that mediator Pakistan made “significant progress” in the most recent negotiations with Tehran, which centred on actions like preventing the dispute from getting worse and reopening the Strait of Hormuz.Interior Minister Mohsin Naqvi, who travelled to Tehran with army chief Asim Munir, stated on X that “the Iranian president openly shared his government’s perspective and we had a very constructive exchange on the issues involved.”
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