Pakistan’s army chief, General Asim Munir, arrived in Tehran on Monday for talks aimed at promoting regional peace and stability, as the United States prepared to unveil what it described as its most sweeping financial offensive against Iran.
US Treasury Secretary Scott Bessent is expected to announce the measures at a press conference at 1 p.m. EDT (1700 GMT), targeting countries and businesses that continue to trade with or support Iran’s economy.
Bessent described the planned measures as “the single greatest financial offensive ever marshalled against an adversary”, warning countries that engage with Iran to reconsider their economic ties with Tehran.
Munir, who has developed a relationship with US President Donald Trump, is expected to meet individuals close to Iran’s supreme leader during his visit, according to a Pakistani source.
Pakistan said the army chief’s trip was part of Islamabad’s efforts to “promote regional peace and stability”.
The visit comes amid escalating tensions between Washington and Tehran, particularly over the Strait of Hormuz, a vital global oil shipping route.
Iran has rejected the US threat, warning that it could halt all oil exports from the Gulf if Washington’s economic pressure continues.
Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said on Sunday that Iran would consider any country supporting the US economic campaign against Tehran to be participating in an act of war.
“If the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf,” Rezaei said in a social media post.
Iran has also issued fresh warnings to shipping operators, saying vessels should not pass through the Strait of Hormuz without Tehran’s permission.
Tehran said Oman’s foreign minister is expected to visit Iran on Tuesday for discussions focused on the strategic waterway.
The latest escalation came as a projectile struck a tanker west of Saudi Arabia’s Red Sea port city of Yanbu on Monday, causing a fire on the vessel’s main deck.
The United Kingdom Maritime Trade Operations, which monitors shipping activity in the region, reported the incident but did not identify who launched the projectile.
Iran-backed Houthi forces said last month they would block Saudi oil exports diverted to the Red Sea to avoid disruptions in the Strait of Hormuz.
Although the US and Iran have not carried out direct military strikes against each other for several weeks, tensions remain high following months of conflict and continuing attacks on vessels around the Gulf.
The conflict has killed thousands of people, mainly in Iran and Lebanon, after the US and Israel launched strikes on February 28.
The attacks have significantly weakened Iran’s conventional military capabilities and damaged infrastructure, while Iran has retained enough missile and drone capacity to threaten neighbouring Gulf states and shipping.
The resulting disruption has brought maritime traffic through the Strait of Hormuz close to a standstill, putting pressure on global fuel markets.
Oil prices fell by more than $1 a barrel on Monday as investors took profits ahead of the expected US announcement.
China, one of Iran’s major economic partners, rejected the US pressure campaign, saying sanctions and coercive measures would not resolve the dispute.
China’s foreign ministry said Beijing would take necessary steps to protect its interests after Bessent urged the country to cooperate with Washington.
Iran also dismissed the latest US threats.
Deputy Foreign Minister Kazem Gharibabadi said Washington had repeatedly predicted the collapse of Iran over the past 48 years, arguing that only the names of the failed initiatives had changed.
“Iran has remained steadfast and powerful,” he said.
However, the mounting economic pressure comes at a difficult time for Iran, whose economy was already struggling with sanctions, high inflation, a weakening currency, energy shortages and structural weaknesses before the latest conflict.
The war has further damaged infrastructure, disrupted trade and production, and increased the financial burden of reconstruction.
Iranian officials have privately expressed concern that additional US sanctions could deepen economic hardship, trigger renewed unrest and further undermine confidence in the Islamic Republic.
Boluwatife Enome
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