Trump’s Economic Pressure on Iran Shakes Oil and Global Markets
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The confrontation between Washington and Tehran is entering a more economically intense phase as the Trump administration prepares a new package of sanctions against Iran and warns countries that continue providing Tehran with an economic lifeline. U.S. Treasury Secretary Scott Bessent said on August 20 that Washington would impose what he called the “toughest sanctions in history,” with further details expected at a Treasury press conference on Monday, August 24. President Donald Trump has also threatened economic consequences for countries that continue supporting Iran. Reuters — U.S. sanctions strategy against Iran Iran has rejected the campaign and warned that additional pressure could provoke a severe response. At the same time, the sanctions threat is arriving while oil flows through the Strait of Hormuz remain heavily disrupted, Iranian crude exports are under pressure and financial markets are already reacting to elevated geopolitical and inflation risks. The result is a crisi...