Iran Blacklists 45 Tankers As US Prepares ‘Greatest Financial Offensive’

by Stefan J. Bos, Worthy News Chief International Correspondent

WASHINGTON/ISLAMABAD/TEHRAN (Worthy News) – Iran flexed its muscles Monday, saying it had blacklisted 45 tankers that had “broken its rules” for crossing the Strait of Hormuz, ahead of the United States launching what it called its “greatest financial offensive ever” against the Islamic Republic.

Tehran said it would take action against any vessels transferring loads with the blacklisted ships, escalating its threats over the key waterway responsible for roughly a fifth of the world’s oil and liquefied natural gas supplies.

The named vessels could face fines or detention and have their cargoes confiscated, according to Iran’s newly established Persian Gulf Strait Authority. Ships conducting ship-to-ship transfers with them could also be blacklisted.

Monday’s announcement underscored that six months into the armed conflict with the United States and Israel, Iran remained a potent force despite suffering extensive damage to its conventional military capabilities.

Observers have expressed growing concern about Washington’s ability to sustain its regional military commitments.

ECONOMIC OFFENSIVE

The confrontation came as Washington prepared to warn countries to cut economic ties with Tehran or risk their businesses being excluded from the dollar-based financial system.

U.S. Treasury Secretary Scott Bessent was due to outline measures broadening potential secondary sanctions against entities and countries maintaining economic ties with Iran, describing the campaign as an “economic D-Day.”

Bessent wrote in the Financial Times that Monday would mark “the single greatest financial offensive ever marshalled against an adversary.”

The measures were expected to increase pressure on oil shippers, purchasers, currency exchanges and other entities helping Iran conduct international trade, while potentially expanding enforcement into aviation and other sectors.

China, for years the largest purchaser of Iranian oil, is among the countries most exposed to the threatened measures. Beijing rejected Washington’s pressure, saying sanctions would not resolve the confrontation and pledging to protect Chinese interests.

PAKISTAN SEEKS BREAKTHROUGH

Iran dismissed the U.S. threats and warned that it could halt oil exports from the Gulf if what it calls Washington’s “economic war” continues.

Despite the standoff, diplomatic efforts to end the six-month conflict were continuing, with Pakistan emerging as a key intermediary between Washington and Tehran.

Pakistan’s army chief, Field Marshal Asim Munir, arrived in Tehran on Monday for talks with senior Iranian officials as Islamabad said the visit was part of efforts “to promote regional peace and stability.”

U.S. President Donald J. Trump spoke with Munir last week ahead of the Tehran mission, according to Pakistani sources, with one saying Washington’s main request was for Pakistan to use its influence to bring Iran back to negotiations.

Pakistan has maintained contacts with both sides and previously helped mediate between Washington and Tehran, including efforts toward an interim understanding in June.

SHIPPING UNDER THREAT

However, the United States and Iran have not conducted airstrikes against each other’s militaries for weeks, while their last official face-to-face negotiations aimed at ending the conflict took place in June. Attacks on shipping have continued.

A projectile struck a tanker west of the Saudi Arabian port city of Yanbu in the Red Sea on Monday, causing a fire on its main deck, according to maritime monitors.

Iran-backed Houthi fighters in Yemen, who have threatened Saudi oil exports diverted through the Red Sea to avoid the Strait of Hormuz, said they had attacked a vessel in the area.

The incidents underscored the widening risks to international shipping after six months of warfare that have severely disrupted traffic through Hormuz.

Before the conflict, the Gulf accounted for about 20 percent of the world’s daily crude oil and liquefied natural gas supplies, while the Strait of Hormuz served as the principal route carrying those exports to international markets.

OIL FLOWS RECOVER

U.S.-coordinated efforts have since helped restore some flows, with Energy Secretary Chris Wright saying the seven-day average of oil leaving the strait had risen above 8 million barrels per day.

Thousands of people have been killed, most of them in Iran and Lebanon, since the United States and Israel launched strikes on February 28, severely damaging Iran’s conventional military capabilities and infrastructure.

Yet Tehran has retained significant missile and drone capabilities, enabling it to threaten neighboring Gulf states and shipping while contributing to higher global fuel prices.

Iran entered the conflict already struggling with high inflation, energy shortages and deep structural economic problems. The rial fell to another record low Monday, extending losses suffered during the war and intensifying pressure on ordinary Iranians.

The exact state of Iran’s nuclear program, cited by Washington and Israel as a main reason for the war, remains unclear following U.S. and Israeli strikes.

Amid the uncertainty, Iran’s threats against international shipping and Washington’s escalating financial pressure have raised the stakes for Pakistan’s mediation efforts.

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