US Treasury Secretary Scott Bessent Hails New Restrictions to Economically Isolate Iran
· World · LiveMint, Bloomberg, CNBC
US Treasury Secretary Scott Bessent announced on Saturday that global envoys were dispatched to pressure countries into isolating Iran economically. The measures target Tehran's banking sector and airlines, resulting in halted incoming flights from Mahan Air by Turkiye and Oman, and a full suspension of Iranian airline flights by the UAE. Meanwhile, US President Donald Trump rejected an Iranian proposal for a seven-day ceasefire and the immediate reopening of the Strait of Hormuz. Iranian President Masoud Pezheskian stated that Tehran will remain resolute against US and Iranian pressure. Iranian Foreign Minister Abbas Araqchi insisted that only a negotiated solution can resolve the ongoing conflict.
Why it matters
The economic restrictions and the blocked Strait of Hormuz escalate geopolitical tensions and threaten international energy transport and regional stability.
Read the original report — LiveMint
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