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Real-time News
On August 25, U.S. Treasury Secretary Bessenter announced an "unprecedented" economic operation against Iran, aimed at severing Irans ties with the global economy, and warned that any country continuing to do business with Iran could face U.S. sanctions. Bessenter stated that the U.S. is launching an "economic offensive" against Irans global financial connections, and that Trump is communicating with world leaders, demanding a halt to economic interactions with the Iranian regime. Relevant countries will be given a deadline; if they fail to cease cooperation, the U.S. Treasury will take unilateral action. This operation focuses on Irans five "lifelines": digital assets, technology, gold, aviation, and shipping. Bessenter did not disclose a specific timeline or details of the measures. Bessenter had previously announced "Operation Economic Fury" against Iran and warned of secondary sanctions against foreign financial institutions that continue to support Iran. He stated, "No one can escape U.S. sanctions." However, analysts believe that given Irans years of sanctions, whether these measures will force Tehran to make concessions on the Strait of Hormuz remains uncertain.On August 25th, local time, Iranian Parliament Speaker Ghalibaf posted on social media regarding the US sanctions threat, stating that the US knows no one will believe their nonsense and that the US is economically powerless to further restrict relations with other countries. Irans trading partners have made it clear through the media and messages that they do not take these statements seriously. On the afternoon of the 24th local time, US Treasury Secretary Bessenter held a press conference, announcing several economic sanctions against Iran to further increase pressure on the country.Canadian Prime Minister Carney: Canada will only return to the negotiating table when the United States takes the right approach to Canadian industries.The Federal Reserve accepted a total of $380 million from two counterparties in its fixed-rate reverse repurchase operations.Saudi Aramco announced the signing of an agreement and memorandum of understanding with a French company, with a potential total value of over $3.7 billion.
