The US has threatened Iran with what it called the 'greatest financial offensive in history,' preparing to introduce economic sanctions on Monday targeting Iran's trading partners.
In response, Iran stated its intention to completely halt oil exports from the Persian Gulf if the economic war continues.
US Treasury Secretary Scott Bessent will hold a press conference today at 9:00 PM UAE time, where even tougher measures against Iran are expected to be revealed.
On Monday, oil prices dropped as investors prepared for details of the US plan to isolate the Iranian economy.
Meanwhile, Pakistan Army Chief Asim Munir plans to visit Tehran today, while Islamabad continues its efforts to facilitate negotiations between the warring parties.