US, Iran keep up hostile rhetoric ahead of new sanctions

The United States and Iran are locked in a war of words as Washington prepares to announce what it calls "the toughest sanctions in history" against Tehran. The impending economic measures are expected to impact Iran and its major trading partners, particularly China, which imports over 80 percent of Iran's oil.

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the toughest sanctions in history

As the conflict nears its six-month mark, diplomatic channels for peace remain closed, while Iran leverages its position by threatening to strike any oil tankers transiting the Strait of Hormuz. This has led to a virtual halt in oil shipments through the vital waterway, stranding hundreds of vessels and seafarers. US Treasury Secretary Scott Bessent is scheduled to detail the sanctions, while also urging China to cooperate with Washington's policy.

Iran's Foreign Ministry spokesperson, Esmaeil Baghaei, denounced the upcoming sanctions, labeling them an "assertion of extraterritorial sovereignty over every independent member state of the United Nations" and stating they lack foundation in international law. Meanwhile, US President Donald Trump reiterated warnings of economic consequences for any nation supporting Iran, expressing his view that Iran is not yet ready to negotiate a "right deal."

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Such secondary sanctions find no foundation in ​international law.

The Strait of Hormuz, crucial for global oil transport, has seen drastically reduced traffic. Data shows only a handful of commodity ships sailed through on a recent Thursday, a stark contrast to the millions of barrels per day that previously transited. However, Iran has granted special permission for Iraqi oil tankers to pass following requests from Baghdad, a point discussed during Iranian parliament speaker Mohammad Baqer Qalibaf's visit to Iraq. The US military previously facilitated the movement of an average of 8 million barrels daily through the strait, a figure down from over 20 million before the conflict.

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