Iran could lose nearly all oil revenue as US tightens sanctions
Secretary of State Marco Rubio warned that economic pressure on Tehran will intensify as efforts to block oil shipments increase.
US Secretary of State Marco Rubio has warned that Iran could lose almost all its oil revenue as the US intensifies sanctions and efforts to block Iranian oil shipments, according to the Times of India.
Rubio stated that Iran has only a few oil shipments remaining at sea that avoided the US blockade during a brief ceasefire and the period covered by a memorandum of understanding (MoU). He said that once these remaining shipments are gone, the country's oil revenue will nearly disappear.
The US Treasury Department, led by Scott Bessent, is working with intelligence agencies to close channels used by Iran to bypass sanctions, including alternative trading in Asian markets, Rubio said.
While Washington has not planned large-scale military strikes for now, American forces recently conducted limited defensive operations against Iranian air defence and radar installations on Qeshm Island. Rubio argued that the naval blockade and economic pressure are already causing significant damage to Tehran.
Diplomatic efforts remain deadlocked as Iran has proposed resuming negotiations within two days, provided the US lifts the naval blockade, eases sanctions, and ends hostilities. Iranian foreign ministry spokesman Esmaeil Baghaei called this the most reasonable offer, but Rubio dismissed the conditions as outrageous and ridiculous.