finance
US Treasury Secretary Announces Sanctions on Firms Aiding Iranian Airlines
US Treasury Secretary Scott Bessent stated that companies providing services to Iran's airlines risk US sanctions under Operation Economic Fury. This comes amid ongoing tensions over the Strait of Hormuz closure and negotiations to end the US-Iran conflict. Multiple nations at a UN Security Council meeting demanded the strait's reopening to restore global trade.
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Bessent specified that foreign governments should prevent firms in their jurisdictions from offering jet fuel, catering, landing fees, or maintenance to Iranian aircraft. He described this as part of Operation Economic Fury, aimed at imposing maximum pressure on Iran.
The US has extended sanctions to include a Chinese oil refinery and 19 shipping companies involved in transporting Iranian oil. This warning follows Iran's capture of commercial vessels and the US seizure of two Iran-linked oil tankers, the Majestic X and the Tifani. Iran's Foreign Ministry spokesman Esmaeil Baghaei called the US actions piracy and armed robbery on the high seas.
The White House is reviewing an Iranian proposal to reopen the Strait of Hormuz and end the ongoing war, according to administration statements. The proposal sets aside questions about Iran's nuclear program. At a UN Security Council meeting initiated by Bahrain, dozens of countries demanded the urgent opening of the strait for unimpeded navigation.
UN Secretary-General Antonio Guterres warned of cascading effects on global food and energy security, noting risks of a global food emergency affecting millions in Africa and South Asia.
“Lasting stability and security in the Persian Gulf and the wider region can only be achieved through a durable and permanent cessation of aggression against Iran, supplemented by credible guarantees of non-recurrence and full respect for the legitimate sovereign rights and interests of Iran." — Amir Saeid Iravani, Iran's UN ambassador (AJEnglish). Iran's UN ambassador, Amir Saeid Iravani, told the council that Iran requires credible guarantees against further US-Israeli attacks before ensuring Gulf security. He accused the US of acting like pirates by targeting commercial vessels.”
In related developments, Israeli attacks in southern Lebanon killed four people and wounded 51 others, including three children, according to Lebanon's National News Agency. The death toll in Lebanon since March 2 has reached 2,521. Hezbollah claimed attacks on Israeli forces in southern Lebanon, targeting a military bulldozer, a Merkava tank, and troop gatherings.
