Meanwhile, traffic on the Strait of Hormuz remains muted, even as US says “oil is flowing” through the critical waterway.
• China rejects Trump threat: China, a major trading partner with Iran, pushed back against US President Donald Trump’s threat of an “economic D-Day” against Iran, saying sanctions do not “fit the interest of any party.” Earlier this week, Trump vowed economic consequences against countries continuing to do business with Tehran, and Treasury Secretary Scott Bessent urged Beijing to “get with the program.”
• Iran pushes back: Tehran also condemned Trump’s economic threat, with the Iranian Foreign Ministry calling it “a recipe for an abysmal return to full-scale classic colonialism.”
• Strait of Hormuz: This past week, the number of ships traversing the critical waterway rose 27%, according to a CNN analysis of figures from the UKMTO. Still, that is only 20% of the pre-war average.
President Donald Trump announced on Wednesday the US would exert more financial pressure on Iran as a deal to end the war remains at an impasse.
