The 60-day negotiation period for a U.S.-Iran agreement ended without a deal. President Donald Trump has strengthened his stance against Tehran. Treasury Secretary Scott Bessent announced new economic measures.
Trump told Fox News that he expects Iran to concede. He confirmed a direct contact line with Iran’s Revolutionary Guard.
The June agreement between the U.S. and Iran aimed for a final deal within 60 days. Reuters reported a breakdown due to a dispute over the Strait of Hormuz. The area is crucial for global oil and gas shipping.
Bessent announced upcoming measures against Iran’s economy. The aim is to further restrict Iran’s ability to generate revenue.
Iran’s oil exports significantly decreased, according to the Treasury. The IMF predicts Iran’s economy will shrink by 5.4%.
Miad Maleki commented on the current economic pressure. He highlighted inflation and reduced oil exports, describing the strategy as a heightened pressure campaign.
Reuters reported a sharp increase in Iran’s consumer prices. President Masoud Pezeshkian noted reduced oil sales and tax revenue.
Maleki highlighted Iran’s dependence on elite networks tied to the IRGC. These groups have insulated themselves from economic pain.
The U.S. strategy is nearing its limit on sanctions. Future focus may involve enforcing existing restrictions on foreign entities aiding Iran.
A senior Iranian official threatened potential military actions if the U.S. doesn’t comply with the interim agreement.
Reporter Efrat Lachter has covered numerous global conflicts and crises. Associated Press and Reuters contributed to the report.