US readies 'toughest sanctions ever' on Iran, warns China

The United States is poised to unveil what it calls "the toughest sanctions in history" against Iran, with Treasury Secretary Scott Bessent scheduled to hold a press conference on Monday. These measures are expected to affect Iran's key trading partners, particularly China, which imports over 80% of Iran's oil. Iran's Foreign Ministry spokesperson, Esmaeil Baghaei, decried the impending sanctions, calling them an "assertion of extraterritorial sovereignty" with no basis in international law.

Amidst the escalating tensions, oil shipments through the Strait of Hormuz have been severely disrupted. Iran has threatened to target any unauthorized oil tankers, effectively halting traffic in the crucial waterway. While the US military has facilitated the movement of millions of barrels of oil daily through the strait, this figure is a fraction of the pre-war volume. The US has also imposed an effective blockade on Iranian vessels.

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Such secondary sanctions find no foundation in international law.

President Donald Trump has warned of economic repercussions for any nation aiding Iran. He expressed skepticism about Iran's readiness for a "right deal." Despite US military actions that have significantly degraded Iran's economy and military, Tehran retains the capability to disrupt oil tanker traffic and launch attacks on regional countries. Trump's initial objectives, such as dismantling Iran's nuclear program and facilitating the overthrow of its clerical rulers, remain unachieved. The conflict has resulted in thousands of deaths, including Iranian schoolchildren, and hundreds of US military casualties.

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