Explore the latest developments concerning Iran war live:.
Iran war live: US vows ‘economic D-Day’; Tehran threatens Gulf oil exports
Draft law says ships of countries permitted to pass through the Strait of Hormuz will pay for services provided by Tehran.
Iran vows to retaliate against countries that cooperate with fresh US sanctions
Test of US rhetoric will rest on whether nations such as India, China and Russia view economic threats as credible
Tehran has vowed to retaliate against any country that cooperates with the US attempt to impose fresh sanctions against Iran in what the Treasury secretary, Scott Bessent, has billed as “the single greatest financial offensive ever marshalled against an adversary”.
In advance of the US announcement, the United Arab Emirates, Iran’s single biggest trading partner in the Middle East, announced it was ending all trade with Iran, a move Tehran believes was coordinated between Washington and the UAE.
The US has said it will impose sanctions on any country or entity trading with Iran – what are known as secondary sanctions.
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Iran faces 'greatest financial offensive ever', says US Treasury Secretary Scott Bessent
The US treasury secretary has threated Iran with "the single greatest financial offensive ever", claiming the US-Israel war with Iran was "entering its endgame".
Scott Bessent said the US would sever all economic ties with the country in "an economic D-Day" and that any nation partnering with Iran financially would also be isolated.
Bessent's threat to the Iranian regime follows several U-turns and extended deadlines from US President Donald Trump's administration on previous threats.
Iran dismissed Bessent's comments and said it would shut down all oil exports from the region "if the war continues", according to news agency Reuters.
The Iranian regime has also issued a new warning to shipping not to pass through the Strait of Hormuz without its permission, the agency reported.
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