Iran faces key day amid US plans

The administration of U.S. President Donald Trump is moving toward announcing unprecedented economic measures against Iran, following its failure to extend the deadline that ended on Monday without reaching a final agreement or an extension, amid deadlocked indirect negotiations between the two sides. The anticipated measures include imposing sanctions on Iranian trade circumvention networks, applying pressure on insurance companies and financial intermediaries, and increasing scrutiny of financial institutions, all aimed at disrupting Iran’s ability to export oil and transfer its revenues, while maritime blockade of its ports continues. These steps come amid a decline in shipping activity through the Strait of Hormuz and a rise in oil prices, at a time when negotiations remain open but show no clear signs of nearing a resolution.

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