US President Donald Trump has vowed to launch what he described as the “most crushing” financial operation against Iran as Washington prepares new sanctions targeting Tehran’s trade partners.
The move comes after Iran threatened to halt all oil exports from the Gulf if what it called an economic war continues, raising fresh concerns over global energy supplies.
According to Channels Television, the United States and Israel’s military campaign against Iran has continued for six months, with thousands of deaths reported, mainly in Iran and Lebanon. The conflict has severely affected Iran’s military capacity and economy.
Oil markets reacted cautiously on Monday as investors awaited details of the planned sanctions. Brent crude fell 2.3 per cent to about $92 per barrel, while West Texas Intermediate also declined.
US officials said allies and China would be encouraged to support the new pressure campaign against Tehran. US Vice President JD Vance described the strategy as a “delicate dance”, warning that Iran could respond with economic measures of its own.
Iran’s threat to shut down Gulf oil exports has heightened fears of possible disruption to global energy markets, particularly because the region remains one of the world’s most important oil-producing areas.
Beyond the Middle East tensions, investors are also monitoring developments in global technology markets, including expectations surrounding Nvidia’s upcoming earnings report and Alibaba’s plans to raise $10.2 billion to expand its artificial intelligence ambitions.
Markets are also watching this week’s meeting of global central bankers and finance leaders in Jackson Hole, United States, for signals on future US monetary policy.