Iran-US economic pressure war intensifies over Strait of Hormuz

KARACHI: The economic pressure battle between Iran and the United States is intensifying, with both sides seeking to force the other to back down. The key question now is which side will yield first under mounting economic pressure.

According to The Wall Street Journal, the conflict between Iran and the US has expanded beyond the military front and turned into an intense economic confrontation. Both countries are using financial and economic measures in an attempt to gain leverage over the other.

The Trump administration has increased sanctions and economic pressure on Iran. Washington has also made lowering global oil prices one of its key objectives in the conflict.

US officials are reportedly considering imposing unusually severe financial sanctions on Iran. The measures are aimed at putting greater pressure on Tehran and forcing it to reopen the Strait of Hormuz, a vital route for global oil shipments.

Iran, meanwhile, believes that the closure of the Strait of Hormuz and persistently high global oil prices could eventually increase pressure on Washington. Tehran expects the economic impact of higher oil prices to push the US to reconsider or soften its policy towards Iran.

The developments have added a major economic dimension to the ongoing confrontation between the two countries. Both Washington and Tehran appear to be relying on economic pressure as a tool to achieve their strategic objectives.