By Staff Reporter
DUBAI-The United States is preparing to impose sweeping new economic sanctions on Iran, with Treasury Secretary Scott Bessent saying Washington intends to “sever every economic lifeline” supporting Tehran.
Iran, however, has warned that continued US economic pressure could trigger a major escalation. Security official Mohsen Rezaei said Tehran could halt all oil exports from the Gulf and regard countries supporting the US sanctions as committing “an act of war.”
The growing tensions are also putting the Strait of Hormuz, a critical global oil shipping route, under renewed scrutiny. Oman’s Foreign Minister Sayyid Badr al-Busaidi is expected to travel to Tehran on Tuesday for talks with Iranian officials on the situation surrounding the strategic waterway.
Meanwhile, Iran’s parliament National Security and Foreign Policy Commission has backed a draft law requiring ships from countries allowed to transit the Strait of Hormuz to pay Tehran for services provided during their passage.
The developments come as Israeli forces continue carrying out deadly strikes across Gaza, including an attack on a warehouse near the Maghazi refugee camp that reportedly killed one person and injured two others.
