US-Iran Rhetoric Heats Up as New Sanctions Loom Over Strait of Hormuz

The United States and Iran have continued their hostile rhetoric ahead of new US economic sanctions that could impact Tehran's trading partners, including China. The sanctions are set to be announced on Monday, with US Treasury Secretary Scott Bessent promising to reveal 'the toughest sanctions in history' on Iran.

China buys more than 80% of Iran's shipped oil, according to data from analytics firm Kpler. Beijing has urged diplomacy, but the US is pushing forward with its plans. Iranian Foreign Ministry spokesperson Esmaeil Baghaei called the impending sanctions 'an assertion of extraterritorial sovereignty over every independent member state of the United Nations.'

The Strait of Hormuz, a critical waterway for oil shipments, has been largely halted due to Iran's threats against unauthorized tankers. The US military has helped move an average of 8 million barrels per day through the strait, down from 20 million before the war.