Iran Finalizes Preferential Trade Pact With Oman Amid US Sanctions
· World · CBS News, Moneycontrol, Bloomberg
Iranian officials announced the finalization of a preferential trade agreement with Oman on Friday as part of a broader push to strengthen economic ties with regional partners. The move comes in response to increased U.S. economic pressure, with President Trump threatening an economic D-Day against the Islamic Republic. Speaking in Baghdad on Thursday, Iranian Parliament Speaker Mohammad Bagher Ghalibaf urged Iran and Iraq to deepen economic cooperation and reduce dependence on the U.S. dollar by conducting trade in national currencies. Ghalibaf stated that the U.S. and Israel shifted to economic and cognitive warfare after failing to defeat Iran and Iraq militarily. Treasury Secretary Scott Bessent added that Washington expects both allies and rivals to join the ramped-up economic campaign against Tehran.
Why it matters
The economic confrontation between Washington and Tehran threatens to reshape trade corridors and financial flows across the Middle East, forcing regional economies to navigate tightening sanctions.
Read the original report — CBS News
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