Updated
Updated · The New York Times · Aug 21
Iran's Ghalibaf Urges Plan Against New US Sanctions as Trump Threatens Oil Buyers
Updated
Updated · The New York Times · Aug 21

Iran's Ghalibaf Urges Plan Against New US Sanctions as Trump Threatens Oil Buyers

3 articles · Updated · The New York Times · Aug 21

Summary

  • Mohammad Bagher Ghalibaf said in Baghdad that Iran must prepare to overcome any new US sanctions, after Washington signaled a sharper economic squeeze on Tehran.
  • The Trump administration has already sanctioned Iran's economy and leadership and is now preparing measures that could target countries buying Iranian oil.
  • Trump has promised an "economic D-Day" and "tremendous economic consequences" for nations doing business with Tehran, widening pressure beyond Iran itself.
  • Treasury Secretary Scott Bessent is expected to outline the new steps on Monday, underscoring that the sanctions campaign is moving toward tougher secondary penalties.

Insights

Will Washington's economic D-Day against Iran inadvertently accelerate a global shift toward cryptocurrency and non-dollar trade networks?
With General License X expiring today, how will global markets react as Iran's massive dark fleet evades the new economic blockade?
Can Iraq successfully balance its reliance on Iranian energy against Washington's threat of tremendous economic consequences for trading with Tehran?