Commodities
US Treasury Declares Economic War on Iran Amid Rising Oil Prices
The US Treasury Department has declared an 'economic D-Day' on Iran, vowing to sever every economic lifeline that sustains the regime.
Treasury Secretary Scott Bessent said countries not joining US sanctions would 'share in Iran's isolation', as President Donald Trump makes phone calls to world leaders with requests to stop interactions with Tehran.
The Treasury Department has targeted Iran's digital assets, technology, gold, aviation, and shipping sectors for sanctions.
Oil prices have risen following the announcement, with West Texas Intermediate up 0.7% at $85.57 per barrel.