Iran, US keep up hostile rhetoric ahead of new sanctions

The United States and Iran are maintaining a hostile rhetoric as the US prepares to announce new economic sanctions, potentially impacting Iran and its key trading partners like China. With the ongoing conflict nearing six months, neither side is pursuing peace talks, while oil shipments through the Strait of Hormuz remain severely disrupted.

US Treasury Secretary Scott Bessent is scheduled to reveal what are described as "the toughest sanctions in history" against Iran and has called for China's cooperation. Data from analytics firm Kpler indicates that China purchases over 80% of Iran's shipped oil. Beijing has urged diplomatic solutions.

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They would love to make a deal, but they're not ready to make the right deal, in my opinion.

Iran's Foreign Ministry spokesperson, Esmaeil Baghaei, condemned the impending US sanctions, labeling them an "assertion of extra territorial sovereignty over every independent member state of the United Nations" and stating that such secondary sanctions have no foundation in international law.

US President Donald Trump has warned of economic consequences for any country supporting Iran. He commented on the situation, suggesting Iran is not ready to make a "right deal." Meanwhile, the Strait of Hormuz remains largely blocked, with thousands of seafarers stranded on hundreds of vessels. Only a few commodity ships have transited the strait recently, none being large crude carriers or LNG tankers.

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Such secondary sanctions find no foundation in international law.

However, Iran has reportedly granted permission for several Iraqi oil tankers to pass through the Strait following requests from Baghdad during a visit by Iranian Parliament Speaker Mohammad Baqer Qalibaf. The US military has stated it previously facilitated the movement of approximately 8 million barrels of oil per day through the strait, a figure significantly down from over 20 million barrels per day before the conflict.

Despite severe economic damage and impacts on its navy and air force due to US actions, Iran retains missile and drone capabilities that can impede oil tanker traffic and target regional rivals. President Trump has yet to achieve initial war objectives, such as dismantling Iran's nuclear program, the status of which remains uncertain.

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the toughest sanctions in history