US vows ‘economic D-Day’ as Iran threatens to halt all oil exports

CAIRO/WASHINGTON: The US threatened Iran with what it called “the greatest financial offensive ever marshalled” as it prepared to roll out economic sanctions on Monday that target Iran’s trade partners. Iran in turn vowed to shut down all oil exports from the Gulf “if the economic war continues.” US Treasury Secretary Scott Bessent will hold a press conference at 1 p.m. EDT (1700 GMT) on Monday amid promises to reveal even more severe measures on a country that has endured near-continuous economic sanctions since the Islamic Revolution of 1979.

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