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Trump signals shift to economic pressure on Iran over new military strikes.
Washington is leaning on sanctions and naval pressure rather than further strikes, with oil markets steadier than they were at the start of the confrontation.
Washington, DC – US relying on sanctions and naval blockade as oil prices stabilise, easing economic strain on American consumers.
Background
Iran and the United States have had no formal diplomatic relations since 1980. Successive rounds of American sanctions have targeted Iran's oil exports, its central bank and its shipping and petrochemical sectors.
Under the 2015 nuclear agreement, formally the Joint Comprehensive Plan of Action, Iran accepted limits on its nuclear programme in exchange for sanctions relief. The United States withdrew from the deal in May 2018 and reimposed sanctions under a policy it called maximum pressure.
Any confrontation in the Gulf carries weight for oil markets because of the Strait of Hormuz, the narrow channel between Iran and Oman through which a large share of the world's seaborne crude and liquefied natural gas passes. At its narrowest the shipping lanes are only a few kilometres wide, and there is no alternative sea route out of the Gulf.
That was a Kibra News Network report, read by an A I voice.
Washington is leaning on sanctions and naval pressure rather than further strikes, with oil markets steadier than they were at the start of the confrontation.
Washington, DC — US relying on sanctions and naval blockade as oil prices stabilise, easing economic strain on American consumers.
Background
Iran and the United States have had no formal diplomatic relations since 1980. Successive rounds of American sanctions have targeted Iran’s oil exports, its central bank and its shipping and petrochemical sectors.
Under the 2015 nuclear agreement, formally the Joint Comprehensive Plan of Action, Iran accepted limits on its nuclear programme in exchange for sanctions relief. The United States withdrew from the deal in May 2018 and reimposed sanctions under a policy it called maximum pressure.
Any confrontation in the Gulf carries weight for oil markets because of the Strait of Hormuz, the narrow channel between Iran and Oman through which a large share of the world’s seaborne crude and liquefied natural gas passes. At its narrowest the shipping lanes are only a few kilometres wide, and there is no alternative sea route out of the Gulf.
