US Prepares Harsh Sanctions Against Iran, Oil Prices Rise

The head of the US Department of the Treasury, Scott Bessent, announced the preparation of severe sanctions against Iran. This statement followed a warning from President Donald Trump about the start of an economic war against countries supporting Tehran. As a result, global oil prices reached a three-week high, as the conflict has already led to the halt of millions of barrels of oil production in the Middle East. Bessent noted that the US is combining a naval blockade with financial restrictions, which should have a decisive impact on the Iranian regime. The Iranian Foreign Ministry condemned the US threats, calling them economic terrorism, and stated that such measures would not affect the protection of the country's sovereignty. China's position, which purchases over 80% of Iran's oil exports, remains uncertain. The Chinese embassy in Washington called for a diplomatic resolution to the issue. Trump also threatened financial consequences for countries supporting Iran, but did not specify any concrete steps. Analysts note that Trump is under pressure due to high fuel prices ahead of the midterm elections in Congress.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.