US warns Iran, partners of severe economic consequences

US intends to sever all the main sources of income and economic links of Iran and to further isolate Tehran economically from the international community.

Before the press conference, Bessent warned countries and organizations that would provide financial support to Iran via its secret banking network or oil trade would suffer heavy economic sanctions. But former American government officials suggest that Washington might be interested more in watching over small and medium-size refineries of China that secretly buy Iranian oil and would try to restrict their access to international banking system.

The US and its allies have been imposing economic sanctions against Iran since 1979 Islamic Revolution. However, according to experts, these sanctions may deal a blow to the Iranian economy and lower its income from oil exports. But still, Tehran is unlikely to surrender without a fight.

Iran’s biggest customer, China, does not accept any unilateral sanctions although Washington tries to put pressure on Beijing.

The US government is hopeful that the sanctions will compel Iran to return to talks. However, it has made it clear that in case of any military reaction from Iran, the US will react with vengeance.

-AJM