US President Calls for Negotiated Solution Amid Iran's Prolonged Conflict, Highlighting U.
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President Masoud Pezeshkian is one of the most prominent voices still calling for a negotiated solution. His allies argue Iran risks overplaying its hand by continuing the war as its economy suffers.
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ZeroHedgeIran's President Masoud Pezeshkian on Friday issued a rare admission, describing that after six months of war initiated by the United States and Israel, the country's economy is feeling significant pain.
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The statement came days after on Monday US Treasury Secretary Scott Bessent unveiled Trump's "Economic D-Day" plan against Iran, noting that while military operations have ceased, a far-reaching and sustained economic warfare campaign is in full effect.
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CNBCOn Monday, U.S. Treasury Secretary Scott Bessent launched "Operation Economic Outcast," a sanctions campaign aimed at severing all of Iran's economic ties worldwide.
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"What do these statistics mean? Then some people say that sanctions have no effect at all! I really don't know what to tell these people," Pezeshkian was quoted as saying. "I just want to say this, saying that sanctions have no effect is not consistent with these facts."
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ZeroHedge"Some say sanctions have no effect at all; to those people, I really don’t know what to say," Pezeshkian told state TV in an interview late on Friday. "We are in a war situation, and we must accept these wartime conditions."
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The biggest weapon in Iran's arsenal has been its ability to shut down the Strait of Hormuz, a vital shipping lane for petroleum. Since the strait's closure, oil and gas prices have soared, costing US consumers an estimated $71.5 billion more to fill up their cars than they otherwise would have paid.
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ZeroHedgeThe increases followed a major global oil supply disruption after the Iran War closed the Strait of Hormuz, pushing oil prices sharply higher as roughly 10 million barrels per day were taken off the market.
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The naval blockade has not only prevented Iran from exporting oil via its ports, it has also kept out imports of refined fuels that Iran needs despite being a major oil producer.
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CNBCIranian crude oil exports are down sharply as the U.S. intensifies economic pressure on Tehran through sanctions and its naval blockade.
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"After another four months of Trump threats, half-hearted bombing runs, and not one but two US blockades of Iran, Tehran’s military exercises formal authority over at least a third of the ships transiting the strait," he wrote. "Plus, it now regularly shoots at 'unauthorized' ships with impunity."
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CNBCPresident Donald Trump reimposed the blockade on July 14 in retaliation for Iran attacking oil tankers transiting the Hormuz Strait. Tehran's crude loadings are down about 70% in August from 893,000 bpd last month.
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The illegal war with Iran that President Donald Trump said would be over in a matter of weeks entered its sixth month on Friday, and there is little sign of it wrapping up in the near future.
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BloombergIran War Hits 6 Month Mark Bloomberg Businessweek looks back on the past six months of the US war with Iran, including how President Trump's timeline for the conflict has shifted as talks with Tehran remain mostly stalled. Bloomberg News White House and National Security Editor Michelle Jamrisko discusses how the war has evolved, and what might come next. (Source: Bloomberg)
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 ZeroHedge As evidence of the early and ongoing impact, lines at gas stations have gotten longer and more frustrating for consumers of late. Pezeshkian openly acknowledged this, and indicated for the first time the country is raising gasoline prices:
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02 Fortune The U.S. will expand its use of secondary sanctions against entities and countries that engage with Iran. Bessent also said any country that helps Iran will be removed from the dollar-based financial system.
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03 CNBC Iranian trade has fallen sharply under U.S. sanctions and a naval blockade, President Masoud Pezeshkian said, as Supreme Leader Mojtaba Khamenei urged a reduction in reliance on the U.S. dollar.
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04 Bloomberg Iran War Exposes Limits of US Military Endurance Six months into the US conflict with Iran, oil flows from the Persian Gulf have recovered to about 40% of prewar levels, but risks remain as the Strait of Hormuz stays constrained and the Navy faces mounting pressure on personnel, equipment and finances. Bloomberg News Economic Statecraft Lead Chris Kennedy and Bloomberg News Defense Reporter Jen Judson join hosts Christina Ruffini and Bailey Lipschultz on Bloomberg This Weekend and discuss the strain on US military readiness and why a new US deal involving Venezuelan oil fields is unlikely to deliver a significant near-term boost to global supply. (Source: Bloomberg)
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05 Common Dreams Trump has "lost the Iran War in every way possible in less than six months," said one critic.
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06 MarketWatch Goldman argues the oil market is ‘adapting’ to the conflict On the six-month anniversary of the war in Iran, divisions are apparent on Wall Street about the trajectory for oil prices, with some arguing markets may be a little too sanguine about the potential for further spikes.
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Sources (6)
- cnbc
- marketwatch
- commondreams
- zerohedge
- bloomberg
- fortune